On Holding AG $ONON Stock Position Raised by Amundi

Key Points

• Amundi increased its ownership in On Holding AG by 2.9% in Q1, acquiring a total of 449,440 shares worth approximately $19.7 million.
• Other institutional investors also expanded their stakes, with Jump Financial LLC notably increasing its holdings by 746.6% to own 717,740 shares valued at $31.5 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for On Holding AG, with an average target price of $64.20, reflecting optimistic growth forecasts.

Amundi boosted its position in On Holding AG (NYSE:ONON - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 449,440 shares of the company's stock after purchasing an additional 12,724 shares during the quarter. Amundi owned about 0.07% of ON worth $19,739,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec raised its position in shares of ON by 9.9% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 24,710 shares of the company's stock worth $1,086,000 after buying an additional 2,222 shares in the last quarter. PDT Partners LLC raised its position in shares of ON by 95.6% during the 1st quarter. PDT Partners LLC now owns 154,492 shares of the company's stock worth $6,785,000 after buying an additional 75,499 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of ON during the 1st quarter worth about $2,535,000. Quarry LP bought a new stake in shares of ON during the 1st quarter worth about $60,000. Finally, Nomura Holdings Inc. raised its position in shares of ON by 72.0% during the 1st quarter. Nomura Holdings Inc. now owns 8,791 shares of the company's stock worth $386,000 after buying an additional 3,680 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Trading Down 0.7%

Shares of ON stock traded down $0.31 during trading on Friday, hitting $42.99. The stock had a trading volume of 3,856,532 shares, compared to its average volume of 5,041,187. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The stock has a 50 day simple moving average of $48.03 and a 200 day simple moving average of $49.25. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $27.07 billion, a PE ratio of 95.54, a P/E/G ratio of 5.59 and a beta of 2.23.

Analyst Upgrades and Downgrades

A number of research firms have commented on ONON. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price target on shares of ON in a research report on Thursday, August 7th. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the stock an "underperform" rating in a research report on Wednesday, August 13th. UBS Group lifted their price objective on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Morgan Stanley lifted their price objective on shares of ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial cut shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective on the stock. in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ON currently 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.