On Holding AG (NYSE:ONON) Shares Acquired by WT Asset Management Ltd

WT Asset Management Ltd lifted its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 67.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,100 shares of the company's stock after acquiring an additional 89,116 shares during the period. ON accounts for approximately 1.1% of WT Asset Management Ltd's investment portfolio, making the stock its 20th biggest holding. WT Asset Management Ltd's holdings in ON were worth $9,755,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ONON. Vontobel Holding Ltd. lifted its position in ON by 41.6% in the first quarter. Vontobel Holding Ltd. now owns 46,180 shares of the company's stock valued at $2,028,000 after acquiring an additional 13,566 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of ON by 3.5% during the first quarter. Peregrine Capital Management LLC now owns 183,070 shares of the company's stock worth $8,040,000 after purchasing an additional 6,114 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of ON in the first quarter valued at about $48,000. Artemis Investment Management LLP lifted its position in ON by 4.2% in the first quarter. Artemis Investment Management LLP now owns 12,715 shares of the company's stock valued at $558,000 after purchasing an additional 517 shares during the period. Finally, Atala Financial Inc boosted its holdings in ON by 77.7% in the 1st quarter. Atala Financial Inc now owns 34,625 shares of the company's stock valued at $1,519,000 after purchasing an additional 15,143 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of research reports. Barclays set a $68.00 price target on shares of ON in a research report on Wednesday, May 14th. Morgan Stanley lowered their target price on ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Citigroup raised ON from a "neutral" rating to a "buy" rating and cut their price target for the stock from $65.00 to $60.00 in a research note on Monday, April 28th. Raymond James Financial reissued a "strong-buy" rating on shares of ON in a research note on Wednesday, May 14th. Finally, Piper Sandler restated an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, ON has an average rating of "Buy" and a consensus target price of $63.85.

ON Trading Up 0.4%

Shares of NYSE ONON traded up $0.23 on Tuesday, reaching $52.28. 4,708,491 shares of the company traded hands, compared to its average volume of 4,631,088. The company has a 50 day moving average of $53.64 and a 200 day moving average of $52.03. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $32.92 billion, a PE ratio of 74.69, a P/E/G ratio of 3.00 and a beta of 2.35.

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.