Private Advisor Group LLC Has $498,000 Stake in On Holding AG (NYSE:ONON)

Private Advisor Group LLC increased its stake in shares of On Holding AG (NYSE:ONON) by 31.2% during the first quarter, HoldingsChannel reports. The fund owned 11,328 shares of the company’s stock after buying an additional 2,692 shares during the period. Private Advisor Group LLC’s holdings in ON were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ONON. Jennison Associates LLC grew its position in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after acquiring an additional 2,798,794 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of ON during the 4th quarter worth about $39,119,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in ON by 355.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company’s stock worth $39,967,000 after purchasing an additional 710,000 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in ON in the 4th quarter worth about $28,575,000. Finally, FMR LLC raised its stake in ON by 1.6% in the 4th quarter. FMR LLC now owns 28,875,965 shares of the company’s stock worth $1,581,537,000 after purchasing an additional 462,738 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of ON from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus lifted their price target on shares of ON from $57.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Truist Financial lifted their price target on shares of ON from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Evercore ISI boosted their target price on shares of ON from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Finally, Robert W. Baird boosted their target price on shares of ON from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.00.

ON Trading Down 2.0%

Shares of ONON opened at $50.69 on Thursday. The firm’s 50 day simple moving average is $54.29 and its 200 day simple moving average is $51.59. The company has a market capitalization of $31.92 billion, a P/E ratio of 72.41, a P/E/G ratio of 2.91 and a beta of 2.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. On Holding AG has a 1-year low of $34.59 and a 1-year 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.