Acadian Asset Management LLC Has $181.76 Million Position in On Holding AG $ONON

Key Points

• Acadian Asset Management LLC has reduced its stake in On Holding AG (NYSE:ONON) by 4.5%, holding 4,139,508 shares valued at approximately $181.76 million.
• Recent analyst ratings indicate optimism for ONON, with target prices ranging from $40.00 to $70.00 and an average rating of "Moderate Buy".
• On Holding AG's current stock price is $44.14, with a 52-week trading range between $34.59 and $64.05.

Acadian Asset Management LLC lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,139,508 shares of the company's stock after selling 195,894 shares during the quarter. Acadian Asset Management LLC owned approximately 0.66% of ON worth $181,758,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ONON. Montag A & Associates Inc. purchased a new stake in ON in the 1st quarter worth approximately $26,000. TCTC Holdings LLC boosted its position in ON by 118.4% during the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after purchasing an additional 315 shares during the last quarter. Park Square Financial Group LLC purchased a new position in ON in the fourth quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB purchased a new position in ON in the first quarter valued at about $32,000. Finally, Smartleaf Asset Management LLC increased its position in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock worth $42,000 after purchasing an additional 916 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ONON. Morgan Stanley boosted their price target on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Raymond James Financial lowered shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target on the stock. in a research note on Tuesday, July 22nd. Barclays upped their price objective on shares of ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Needham & Company LLC restated a "buy" rating and set a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Finally, UBS Group upped their target price on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ON has an average rating of "Moderate Buy" and an average target price of $64.20.

ON Price Performance

Shares of NYSE ONON traded up $0.05 during midday trading on Monday, reaching $42.94. 2,043,023 shares of the company traded hands, compared to its average volume of 5,415,758. The stock's 50-day simple moving average is $48.03 and its 200-day simple moving average is $49.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The firm has a market cap of $27.04 billion, a PE ratio of 95.41, a PEG ratio of 5.54 and a beta of 2.23.

About ON

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.