Ridgecrest Wealth Partners LLC Purchases Shares of 41,500 On Holding AG (NYSE:ONON)

Ridgecrest Wealth Partners LLC purchased a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 41,500 shares of the company's stock, valued at approximately $1,823,000. ON comprises about 1.0% of Ridgecrest Wealth Partners LLC's investment portfolio, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new position in ON during the fourth quarter worth about $32,000. MassMutual Private Wealth & Trust FSB bought a new position in shares of ON during the 1st quarter worth approximately $32,000. Bernard Wealth Management Corp. acquired a new position in shares of ON during the 4th quarter worth approximately $44,000. Point72 Hong Kong Ltd bought a new stake in ON in the 4th quarter valued at $69,000. Finally, Parallel Advisors LLC lifted its holdings in 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 purchasing an additional 450 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

ON Stock Up 1.8%

Shares of ONON opened at $52.79 on Monday. The firm has a 50 day simple moving average of $52.44 and a two-hundred day simple moving average of $52.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a market cap of $33.24 billion, a P/E ratio of 75.42, a P/E/G ratio of 3.01 and a beta of 2.35.

Analysts Set New Price Targets

ONON has been the topic of several research analyst reports. UBS Group set a $75.00 price objective on shares of ON in a research report on Wednesday, May 14th. Citigroup raised shares of ON from a "neutral" rating to a "buy" rating and lowered their price target for the company from $65.00 to $60.00 in a report on Monday, April 28th. HSBC upgraded ON from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a report on Tuesday, March 11th. Williams Trading increased their target price on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley reduced their price target on ON from $66.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ON presently has an average rating of "Buy" and a consensus target price of $63.85.

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.

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