On Holding AG (NYSE:ONON) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC grew its position in On Holding AG (NYSE:ONON) by 29.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,800 shares of the company’s stock after purchasing an additional 10,800 shares during the period. Gabelli Funds LLC’s holdings in ON were worth $2,618,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have recently commented on ONON shares. The Goldman Sachs Group lowered shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a report on Wednesday, February 12th. KeyCorp restated an “overweight” rating and issued a $68.00 target price on shares of ON in a research note on Wednesday, March 5th. Bank of America initiated coverage on ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. UBS Group boosted their price objective on ON from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Barclays raised their target price on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.00.

ON Stock Up 1.8 %

Shares of ON stock opened at $42.50 on Friday. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05. The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 98.83, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32. The business has a fifty day simple moving average of $46.52 and a 200-day simple moving average of $51.77.

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.