On Holding AG $ONON Shares Bought by Jump Financial LLC

Key Points

• Jump Financial LLC significantly increased its stake in On Holding AG by 746.6%, owning a total of 717,740 shares worth approximately $31.52 million at the end of the latest reporting period.
• Institutional ownership of On Holding AG stock stands at 36.39%, with several institutions, including Invesco and Stifel Nicolaus, bolstering their positions in the company.
• Wall Street analysts have a moderate buy consensus rating on ONON shares, with the average price target set at $64.20, indicating potential growth ahead.

Jump Financial LLC increased its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 746.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 717,740 shares of the company's stock after acquiring an additional 632,965 shares during the quarter. Jump Financial LLC owned about 0.11% of ON worth $31,523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ONON. CWM LLC boosted its stake in ON by 22.2% during the first quarter. CWM LLC now owns 1,259 shares of the company's stock worth $55,000 after buying an additional 229 shares during the period. Sage Capital Advisors llc lifted its holdings in shares of ON by 0.3% in the 1st quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock worth $4,406,000 after acquiring an additional 269 shares during the last quarter. TCTC Holdings LLC lifted its holdings in shares of ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after acquiring an additional 315 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of ON by 2.9% during the 1st quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock worth $539,000 after purchasing an additional 348 shares during the period. Finally, Parallel Advisors LLC grew its holdings in ON by 53.4% during the 1st quarter. Parallel Advisors LLC now owns 1,292 shares of the company's stock valued at $57,000 after purchasing an additional 450 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Stock Down 0.8%

Shares of NYSE:ONON traded down $0.37 during trading on Tuesday, reaching $45.22. The stock had a trading volume of 3,747,111 shares, compared to its average volume of 8,355,463. The firm's 50-day simple moving average is $50.12 and its 200 day simple moving average is $49.88. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a market capitalization of $28.47 billion, a P/E ratio of 101.31, a PEG ratio of 2.64 and a beta of 2.24.

Analyst Ratings Changes

ONON has been the subject of several analyst reports. Morgan Stanley raised 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. Cowen restated a "buy" rating on shares of ON in a report on Wednesday, May 14th. Robert W. Baird upped their price objective on ON from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Raymond James Financial lowered ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price on the stock. in a research note on Tuesday, July 22nd. Finally, UBS Group boosted their target price on shares of ON from $75.00 to $79.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.20.

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.