Apollon Wealth Management LLC Takes $461,000 Position in On Holding AG (NYSE:ONON)

Apollon Wealth Management LLC acquired a new position in On Holding AG (NYSE:ONON) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,197 shares of the company’s stock, valued at approximately $461,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. Quarry LP purchased a new position in ON during the 2nd quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new position in shares of ON in the 3rd quarter valued at about $50,000. Finally, Asset Dedication LLC lifted its position in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares in the last quarter. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of ON from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Hsbc Global Res raised shares of ON to a “hold” rating in a research note on Thursday, September 5th. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday. Piper Sandler upped 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. Finally, HSBC began coverage on ON in a research note on Thursday, September 5th. They set a “hold” rating and a $52.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Stock Performance

Shares of NYSE:ONON opened at $51.92 on Friday. The stock’s 50-day moving average is $49.56 and its 200-day moving average is $43.25. The company has a market cap of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25. On Holding AG has a 52-week low of $25.78 and a 52-week high of $56.44.

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.