On Holding AG (NYSE:ONON) Shares Sold by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP reduced its holdings in On Holding AG by 33.8% in Q1 2023, owning 31,825 shares valued at $1.4 million after selling 16,257 shares.
• Wall Street analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average target price of $64.00, despite recent fluctuations in the stock price.
• Shares of On Holding AG fell 2.0% to $50.69, with a market capitalization of $31.92 billion and a PE ratio of 72.41.

GSA Capital Partners LLP reduced its holdings in On Holding AG (NYSE:ONON - Free Report) by 33.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,825 shares of the company's stock after selling 16,257 shares during the quarter. GSA Capital Partners LLP's holdings in ON were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company's stock valued at $55,000 after acquiring an additional 229 shares during the last quarter. Sage Capital Advisors llc boosted its holdings in ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock valued at $4,406,000 after acquiring an additional 269 shares during the last quarter. TCTC Holdings LLC boosted its holdings in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in ON by 2.4% in the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company's stock valued at $743,000 after acquiring an additional 323 shares during the last quarter. Finally, Merit Financial Group LLC boosted its holdings in ON by 2.9% in the first quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock valued at $539,000 after acquiring an additional 348 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on ON from $57.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Raymond James Financial cut ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price on the stock. in a report on Tuesday, July 22nd. Truist Financial increased their price target on ON from $61.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. UBS Group set a $75.00 price objective on ON in a research note on Wednesday, May 14th. Finally, Robert W. Baird boosted their price objective on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.00.

ON Stock Down 2.0%

Shares of NYSE:ONON traded down $1.06 during trading on Wednesday, hitting $50.69. The company's stock had a trading volume of 5,531,019 shares, compared to its average volume of 4,545,541. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The stock's 50-day moving average price is $54.46 and its two-hundred day moving average price is $51.60. The company has a market capitalization of $31.92 billion, a PE ratio of 72.41, a PEG ratio of 2.91 and a beta of 2.25.

ON Company 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.