Ninety One UK Ltd Purchases New Position in On Holding AG $ONON

Key Points

• Ninety One UK Ltd has acquired a new position in On Holding AG, purchasing 188,276 shares valued at approximately $9.8 million.
• Institutional investors now own 36.39% of On Holding AG, reflecting growing interest among various funds.
• Analysts have set varying price targets for ONON, with Barclays raising it to $69.00 and UBS Group increasing theirs to $79.00, while the consensus rating remains a "Moderate Buy."

Ninety One UK Ltd purchased a new stake in shares of On Holding AG (NYSE:ONON - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 188,276 shares of the company's stock, valued at approximately $9,800,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Montag A & Associates Inc. bought a new stake in ON during the 1st quarter worth approximately $26,000. TCTC Holdings LLC grew its holdings in ON by 118.4% during 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. MassMutual Private Wealth & Trust FSB bought a new stake in ON during the 1st quarter worth approximately $32,000. Smartleaf Asset Management LLC grew its holdings in ON by 3,392.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock worth $42,000 after acquiring an additional 916 shares during the last quarter. Finally, Ramirez Asset Management Inc. bought a new stake in ON during the 1st quarter worth approximately $44,000. 36.39% of the stock is owned by institutional investors.

ON Stock Performance

ONON opened at $40.99 on Thursday. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The company's fifty day moving average price is $45.66 and its two-hundred day moving average price is $48.90. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a market cap of $25.81 billion, a price-to-earnings ratio of 91.08, a PEG ratio of 5.47 and a beta of 2.20.

Analysts Set New Price Targets

ONON has been the topic of a number of research reports. Barclays boosted their target price on shares of ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. 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. Telsey Advisory Group restated an "outperform" rating and issued a $65.00 price target on shares of ON in a research report on Thursday, August 7th. UBS Group boosted their price target on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Needham & Company LLC restated a "buy" rating and issued a $62.00 price target on shares of ON in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ON currently has a consensus rating of "Moderate Buy" and an average price target of $64.20.

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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