U S Global Investors Inc. purchased a new position in shares of On Holding AG (NYSE:ONON – Free Report) in the third quarter, Holdings Channel reports. The fund purchased 2,650 shares of the company’s stock, valued at approximately $133,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Blair William & Co. IL bought a new stake in shares of ON in the 1st quarter worth $502,000. Janney Montgomery Scott LLC raised its stake in shares of ON by 1,011.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after buying an additional 94,814 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of ON in the 1st quarter worth $8,094,000. Wellington Management Group LLP bought a new stake in shares of ON in the 4th quarter worth $34,420,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after buying an additional 642,894 shares in the last quarter. Institutional investors own 33.11% of the company’s stock.
ON Price Performance
Shares of NYSE ONON traded down $0.44 during trading hours on Tuesday, hitting $47.87. 190,999 shares of the company’s stock were exchanged, compared to its average volume of 5,016,976. On Holding AG has a 1-year low of $24.15 and a 1-year high of $52.80. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 91.15 and a beta of 2.24. The company’s 50-day moving average price is $47.56 and its 200-day moving average price is $41.02.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Raymond James assumed coverage on ON in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective on the stock. Piper Sandler boosted their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on ON from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Bank of America raised ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, TD Cowen boosted their target price on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.74.
Read Our Latest Analysis on ONON
ON Profile
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.
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