Panoramic Capital LLC Makes New Investment in On Holding AG $ONON

Key Points

• Panoramic Capital LLC has acquired a new stake in On Holding AG, purchasing 10,000 shares valued at approximately $439,000, which represents 0.5% of their total holdings.
• Multiple institutional investors have increased their investments in On Holding AG during the first quarter, with CWM LLC and TCTC Holdings LLC among those significantly boosting their stakes.
• Wall Street analysts maintain a positive outlook on ON, with an average rating of "Moderate Buy" and a target price of $64.20, signaling potential for growth in the company's stock value.

Panoramic Capital LLC acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company's stock, valued at approximately $439,000. ON makes up approximately 0.5% of Panoramic Capital LLC's investment portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its position in ON by 22.2% during the 1st quarter. CWM LLC now owns 1,259 shares of the company's stock worth $55,000 after purchasing an additional 229 shares in the last quarter. Sage Capital Advisors llc grew its position in ON by 0.3% during the 1st quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock worth $4,406,000 after purchasing an additional 269 shares in the last quarter. TCTC Holdings LLC grew its position 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 purchasing an additional 315 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of ON by 2.9% during the 1st quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock valued at $539,000 after acquiring an additional 348 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of ON by 53.4% during the 1st quarter. Parallel Advisors LLC now owns 1,292 shares of the company's stock valued at $57,000 after acquiring an additional 450 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ONON. Stifel Nicolaus boosted their price target on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Robert W. Baird boosted their price target on shares of ON from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Raymond James Financial cut shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target on the stock. in a report on Tuesday, July 22nd. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price target on shares of ON in a report on Thursday, August 7th. Finally, UBS Group boosted their price target on shares of ON from $75.00 to $79.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

ON Stock Down 1.8%

NYSE:ONON traded down $0.81 during trading hours on Tuesday, reaching $44.39. The company's stock had a trading volume of 4,586,510 shares, compared to its average volume of 6,536,309. The company has a market cap of $27.95 billion, a price-to-earnings ratio of 98.65, a price-to-earnings-growth ratio of 5.84 and a beta of 2.23. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The business's 50-day moving average is $48.70 and its 200-day moving average is $49.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

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.