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

A number of other large investors have also added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in shares of ON in the 1st quarter worth approximately $26,000. TCTC Holdings LLC raised its position in ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after buying an additional 315 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of ON in the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in ON in the first quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock valued at $42,000 after acquiring an additional 916 shares in the last quarter. Institutional investors own 36.39% of the company's stock.

ON Price Performance

NYSE ONON traded down $0.31 on Friday, reaching $42.99. The company's stock had a trading volume of 3,856,532 shares, compared to its average volume of 5,041,187. The firm has a market cap of $27.07 billion, a PE ratio of 95.54, a price-to-earnings-growth ratio of 5.59 and a beta of 2.23. The business has a 50-day moving average price of $48.03 and a 200 day moving average price of $49.25. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $62.00 price objective on shares of ON in a research note on Tuesday, August 12th. Barclays increased their price target on ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price target on ON and gave the company an "underperform" rating in a report on Wednesday, August 13th. Raymond James Financial downgraded ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price for the company. in a research note on Tuesday, July 22nd. Finally, UBS Group raised their target price on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $64.20.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.