Kayne Anderson Rudnick Investment Management LLC lessened its stake in On Holding AG (NYSE:ONON - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,075,752 shares of the company's stock after selling 96,382 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.17% of ON worth $47,247,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ONON. PNC Financial Services Group Inc. lifted its position in shares of ON by 36.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company's stock worth $494,000 after acquiring an additional 3,025 shares during the period. Citigroup Inc. raised its stake in shares of ON by 73.1% in the first quarter. Citigroup Inc. now owns 213,127 shares of the company's stock valued at $9,361,000 after purchasing an additional 89,982 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in ON by 151.2% in the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock worth $829,000 after purchasing an additional 11,362 shares during the period. BNP Paribas Financial Markets acquired a new stake in ON during the fourth quarter worth $39,119,000. Finally, APEIRON CAPITAL Ltd increased its holdings in ON by 35.9% in the 1st quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company's stock valued at $43,882,000 after buying an additional 264,000 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on ONON shares. Cowen reissued a "buy" rating on shares of ON in a research note on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and issued a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Robert W. Baird raised their target price on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Evercore ISI boosted their price target on ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Finally, Barclays increased their price objective on ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.20.
Check Out Our Latest Analysis on ONON
ON Price Performance
Shares of ONON stock traded down $0.55 during trading hours on Thursday, reaching $44.63. 4,446,635 shares of the company were exchanged, compared to its average volume of 5,452,056. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 99.19, a P/E/G ratio of 4.99 and a beta of 2.24. The stock's fifty day moving average is $49.84 and its two-hundred day moving average is $49.78. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05.
ON Profile
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Free Report)
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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