APEIRON CAPITAL Ltd Decreases Position in On Holding AG $ONON

Key Points

• APEIRON CAPITAL Ltd has reduced its stake in On Holding AG by 20.3%, owning 795,852 shares after selling 203,273 shares during the second quarter.
• Despite APEIRON's decrease, other institutional investors like the Public Employees Retirement System of Ohio and CitiGroup have increased their positions in On Holding AG.
• Analysts have mixed ratings on ONON, with an average target price of $64.20 and various price targets ranging from $40 to $79.

APEIRON CAPITAL Ltd decreased its position in On Holding AG (NYSE:ONON - Free Report) by 20.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 795,852 shares of the company's stock after selling 203,273 shares during the period. ON accounts for 0.1% of APEIRON CAPITAL Ltd's portfolio, making the stock its 4th largest position. APEIRON CAPITAL Ltd owned 0.13% of ON worth $41,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in ON by 106.6% during the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company's stock worth $3,570,000 after buying an additional 35,391 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of ON by 36.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company's stock worth $494,000 after purchasing an additional 3,025 shares during the period. Citigroup Inc. raised its position in shares of ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company's stock worth $9,361,000 after purchasing an additional 89,982 shares during the period. Red Spruce Capital LLC raised its position in ON by 64.8% in the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company's stock valued at $1,851,000 after buying an additional 13,980 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in ON by 151.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock valued at $829,000 after buying an additional 11,362 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ONON. Jefferies Financial Group set a $40.00 target price on ON and gave the company an "underperform" rating in a research report on Wednesday, August 13th. UBS Group lifted their target price on ON from $75.00 to $79.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a "sell (d+)" rating on shares of ON in a research report on Wednesday. Barclays boosted their price target on ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Finally, Raymond James Financial lowered ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target on the stock. in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, ON currently has an average rating of "Moderate Buy" and an average price target of $64.20.

ON Stock Performance

ONON opened at $41.93 on Friday. The business has a fifty day simple moving average of $44.61 and a 200 day simple moving average of $48.70. The company has a market capitalization of $26.40 billion, a PE ratio of 93.18, a price-to-earnings-growth ratio of 5.20 and a beta of 2.19. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

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.

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