Y Intercept Hong Kong Ltd Has $247,000 Stake in On Holding AG (NYSE:ONON)

Key Points

• Y Intercept Hong Kong Ltd reduced its holdings in On Holding AG by 72.6% in the first quarter, leaving it with 5,623 shares valued at $247,000 according to its latest SEC filing.
• Numerous institutional investors are adjusting their positions in On Holding AG, with several new acquisitions totaling around $32,000 to $48,000 during the recent quarters.
• Analysts maintain a generally positive outlook on On Holding AG, with 19 buy ratings, a "Moderate Buy" average rating, and an average price target of $64.00 per share.

Y Intercept Hong Kong Ltd lessened its holdings in On Holding AG (NYSE:ONON - Free Report) by 72.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,623 shares of the company's stock after selling 14,879 shares during the period. Y Intercept Hong Kong Ltd's holdings in ON were worth $247,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock worth $212,943,000 after purchasing an additional 2,798,794 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of ON in the fourth quarter valued at $39,119,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of ON by 355.0% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company's stock valued at $39,967,000 after purchasing an additional 710,000 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ON in the fourth quarter valued at $28,575,000. Finally, FMR LLC raised its stake in shares of ON by 1.6% in the fourth quarter. FMR LLC now owns 28,875,965 shares of the company's stock valued at $1,581,537,000 after purchasing an additional 462,738 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Down 3.1%

Shares of NYSE ONON traded down $1.49 during midday trading on Friday, reaching $47.08. 8,753,372 shares of the stock were exchanged, compared to its average volume of 4,390,541. The business has a 50-day simple moving average of $53.86 and a two-hundred day simple moving average of $51.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of 67.26, a P/E/G ratio of 2.73 and a beta of 2.24. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05.

Analyst Ratings Changes

ONON has been the subject of a number of recent research reports. Needham & Company LLC increased their price objective on shares of ON from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. KeyCorp raised their target price on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Truist Financial lifted their price objective on ON from $61.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley cut their price target on shares of ON from $66.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Barclays set a $68.00 price target on ON in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.00.

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.