The Manufacturers Life Insurance Company Decreases Stake in On Holding AG (NYSE:ONON)

The Manufacturers Life Insurance Company lessened its stake in shares of On Holding AG (NYSE:ONON) by 26.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 438,102 shares of the company’s stock after selling 158,428 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of ON worth $21,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after buying an additional 642,894 shares during the last quarter. Forte Capital LLC ADV purchased a new stake in ON during the 3rd quarter valued at about $742,000. Coronation Fund Managers Ltd. increased its holdings in shares of ON by 248.6% in the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after purchasing an additional 110,467 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of ON in the first quarter worth about $486,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of ON during the third quarter worth about $658,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Trading Up 0.7 %

ONON stock opened at $58.33 on Friday. On Holding AG has a 12-month low of $25.78 and a 12-month high of $59.19. The business’s 50-day moving average is $51.16 and its 200 day moving average is $44.91. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 135.65 and a beta of 2.25.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ONON. Hsbc Global Res raised shares of ON to a “hold” rating in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their target price on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Truist Financial increased their price target on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC assumed coverage on ON in a report on Friday, November 22nd. They issued a “buy” rating and a $64.00 price objective for the company. Finally, BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.05.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.