Cresset Asset Management LLC Increases Position in On Holding AG (NYSE:ONON)

Cresset Asset Management LLC lifted its position in On Holding AG (NYSE:ONON) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,702 shares of the company’s stock after purchasing an additional 1,983 shares during the period. Cresset Asset Management LLC’s holdings in ON were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONON. Park Avenue Securities LLC increased its stake in shares of ON by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 16,006 shares of the company’s stock worth $877,000 after purchasing an additional 2,565 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of ON in the fourth quarter worth $653,000. Capricorn Fund Managers Ltd purchased a new position in ON during the fourth quarter valued at $3,536,000. Bennett Selby Investments LP grew its stake in ON by 7.8% during the fourth quarter. Bennett Selby Investments LP now owns 21,849 shares of the company’s stock valued at $1,197,000 after acquiring an additional 1,578 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in ON by 148.8% during the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock valued at $66,000 after acquiring an additional 787 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on ONON shares. Barclays set a $68.00 target price on shares of ON in a research note on Wednesday. Morgan Stanley cut their target price on shares of ON from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Jefferies Financial Group started coverage on shares of ON in a research note on Tuesday, April 1st. They set a “hold” rating and a $44.00 target price for the company. Citigroup raised shares of ON from a “neutral” rating to a “buy” rating and cut their target price for the company from $65.00 to $60.00 in a research note on Monday, April 28th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of ON in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $61.73.

ON Trading Down 0.0%

ON stock opened at $57.36 on Thursday. The firm has a 50-day moving average price of $45.55 and a 200-day moving average price of $51.56. The firm has a market capitalization of $36.12 billion, a PE ratio of 133.40, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.