RFG Advisory LLC Acquires Shares of 28,904 On Holding AG $ONON

Key Points

• RFG Advisory LLC disclosed a new fourth-quarter stake in On Holding AG, buying 28,904 shares valued at about $1.34 million.
• Several other institutional investors also increased their positions, and hedge funds and institutions now own 36.39% of On’s stock.
• CEO Martin Hoffmann sold 4,150 shares in a pre-arranged trading plan, while analysts currently rate ON as a Moderate Buy with an average price target of $58.40.

RFG Advisory LLC acquired a new stake in On Holding AG (NYSE:ONON - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,904 shares of the company's stock, valued at approximately $1,343,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company's stock valued at $8,320,000 after purchasing an additional 62,500 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in ON by 86.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 13,656 shares of the company's stock valued at $635,000 after purchasing an additional 6,326 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in ON by 8.6% in the 4th quarter. Vista Capital Partners Inc. now owns 19,887 shares of the company's stock valued at $924,000 after purchasing an additional 1,577 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in ON in the 4th quarter valued at approximately $393,000. Finally, Horizon Investments LLC boosted its holdings in ON by 103.5% in the 4th quarter. Horizon Investments LLC now owns 2,122 shares of the company's stock valued at $99,000 after purchasing an additional 1,079 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

Insider Activity at ON

In other news, CEO Martin Hoffmann sold 4,150 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares of the company's stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 20,750 shares of company stock worth $745,838. 68.57% of the stock is owned by insiders.

ON Price Performance

Shares of NYSE:ONON opened at $35.15 on Friday. The business's 50 day simple moving average is $37.48 and its 200-day simple moving average is $42.08. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 48.82, a price-to-earnings-growth ratio of 0.72 and a beta of 2.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. On Holding AG has a 12 month low of $31.41 and a 12 month high of $61.29.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Zacks Research lowered ON from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 11th. Raymond James Financial raised ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 price objective on the stock in a report on Thursday, April 23rd. Barclays lowered their price objective on ON from $60.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, March 4th. Truist Financial decreased their price target on ON from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $52.00 price target on shares of ON in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, ON presently has an average rating of "Moderate Buy" and an average price target of $58.40.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.

Want to see what other hedge funds are holding ONON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for On Holding AG (NYSE:ONON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.