Apollon Wealth Management LLC Cuts Stock Position in On Holding AG (NYSE:ONON)

Apollon Wealth Management LLC lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 61.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,221 shares of the company's stock after selling 9,784 shares during the quarter. Apollon Wealth Management LLC's holdings in ON were worth $273,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of ONON. Park Square Financial Group LLC bought a new stake in ON in the fourth quarter valued at $32,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of ON in the first quarter worth about $32,000. Bernard Wealth Management Corp. bought a new position in shares of ON during the fourth quarter worth about $44,000. MorganRosel Wealth Management LLC bought a new position in shares of ON during the first quarter worth about $48,000. Finally, CWM LLC grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Analysts Set New Price Targets

ONON has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on ON in a report on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price objective for the company. Citigroup raised ON from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $65.00 to $60.00 in a research note on Monday, April 28th. Barclays set a $68.00 price objective on ON in a research note on Wednesday, May 14th. Cowen reaffirmed a "buy" rating on shares of ON in a report on Wednesday, May 14th. Finally, Needham & Company LLC increased their price objective on ON from $55.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.00.

ON Stock Down 5.4%

ON stock traded down $2.87 during mid-day trading on Tuesday, reaching $50.35. The stock had a trading volume of 7,060,108 shares, compared to its average volume of 4,622,868. The firm has a market capitalization of $31.70 billion, a PE ratio of 71.92, a price-to-earnings-growth ratio of 2.98 and a beta of 2.25. 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 simple moving average is $55.40 and its 200-day simple moving average is $51.79.

ON 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.