MML Investors Services LLC Boosts Stock Holdings in On Holding AG (NYSE:ONON)

MML Investors Services LLC raised its position in shares of On Holding AG (NYSE:ONON) by 11.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 48,190 shares of the company’s stock after acquiring an additional 4,990 shares during the quarter. MML Investors Services LLC’s holdings in ON were worth $2,639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new position in ON in the 4th quarter valued at $30,000. Legacy Bridge LLC purchased a new position in shares of ON in the fourth quarter worth about $43,000. Bernard Wealth Management Corp. acquired a new position in ON during the fourth quarter worth about $44,000. Arcadia Investment Management Corp MI purchased a new stake in ON during the 4th quarter valued at about $53,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in ON in the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Stifel Nicolaus dropped their target price on ON from $66.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Williams Trading lifted their price target on ON from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Needham & Company LLC dropped their price objective on shares of ON from $64.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Morgan Stanley boosted their target price on shares of ON from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.00.

ON Stock Performance

NYSE ONON opened at $45.01 on Monday. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The firm has a 50 day simple moving average of $45.37 and a 200-day simple moving average of $51.49. The firm has a market cap of $28.34 billion, a price-to-earnings ratio of 104.68, a PEG ratio of 1.02 and a beta of 2.32.

ON Profile

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