1832 Asset Management L.P. Buys 178,750 Shares of On Holding AG $ONON

Key Points

• 1832 Asset Management L.P. increased its holdings in On Holding AG by 8.3%, owning 2,344,700 shares valued at approximately $102.98 million as of the end of the most recent quarter.
• Recent analyst ratings show a consensus target price of $64.20 for ONON, with multiple firms, including Truist Financial and UBS Group, raising their price targets significantly.
• On Holding AG's stock is currently priced at $46.48, up 4.3%, with a market cap of $29.26 billion and a notable debt-to-equity ratio of 0.31.

1832 Asset Management L.P. grew its stake in On Holding AG (NYSE:ONON - Free Report) by 8.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,344,700 shares of the company's stock after acquiring an additional 178,750 shares during the period. 1832 Asset Management L.P. owned 0.37% of ON worth $102,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Montag A & Associates Inc. acquired a new position in ON during the 1st quarter worth $26,000. TCTC Holdings LLC lifted 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 buying an additional 315 shares in the last quarter. Park Square Financial Group LLC acquired a new position in ON during the 4th quarter worth $32,000. MassMutual Private Wealth & Trust FSB acquired a new position in ON during the 1st quarter worth $32,000. Finally, Bernard Wealth Management Corp. acquired a new position in ON during the 4th quarter worth $44,000. 36.39% of the stock is owned by institutional investors.

ON Trading Up 0.0%

ON stock traded up $0.02 during midday trading on Wednesday, hitting $45.20. 2,770,389 shares of the stock were exchanged, compared to its average volume of 5,456,205. The company has a fifty day simple moving average of $50.12 and a two-hundred day simple moving average of $49.88. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The stock has a market capitalization of $28.46 billion, a PE ratio of 100.44, a P/E/G ratio of 2.64 and a beta of 2.24. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of ON from $68.00 to $69.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $62.00 target price on shares of ON in a research note on Tuesday, August 12th. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Stifel Nicolaus raised their target price on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $65.00 target price on shares of ON in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ON presently has an average rating of "Moderate Buy" and a consensus target price 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.