Cetera Investment Advisers boosted its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,186 shares of the company's stock after buying an additional 9,176 shares during the period. Cetera Investment Advisers' holdings in ON were worth $2,584,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Bridge LLC bought a new stake in shares of ON in the 4th quarter worth $43,000. Bernard Wealth Management Corp. bought a new stake in shares of ON in the 4th quarter worth $44,000. Arcadia Investment Management Corp MI bought a new stake in shares of ON in the 4th quarter worth $53,000. VisionPoint Advisory Group LLC bought a new stake in shares of ON in the 4th quarter worth $65,000. Finally, Blue Trust Inc. increased its holdings in shares of ON by 148.8% in the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock worth $66,000 after purchasing an additional 787 shares in the last quarter. Institutional investors own 36.39% of the company's stock.
Analysts Set New Price Targets
A number of research firms have commented on ONON. Morgan Stanley reduced their target price on ON from $66.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group lowered ON from a "buy" rating to a "neutral" rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Williams Trading lifted their price objective on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. UBS Group set a $75.00 price objective on ON in a report on Wednesday, May 14th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $65.00 price objective on shares of ON in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, ON currently has an average rating of "Buy" and a consensus price target of $62.45.
Check Out Our Latest Analysis on ONON
ON Stock Performance
Shares of ON stock traded down $0.38 during trading hours on Friday, hitting $58.44. The company's stock had a trading volume of 4,394,621 shares, compared to its average volume of 4,632,569. The business has a 50 day moving average price of $47.40 and a two-hundred day moving average price of $52.10. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The company has a market cap of $36.80 billion, a PE ratio of 135.91, a PEG ratio of 1.02 and a beta of 2.30.
ON Company Profile
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Free Report)
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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