Riposte Capital LLC Cuts Position in On Holding AG (NYSE:ONON)

Key Points

• Riposte Capital LLC reduced its stake in On Holding AG by 28.0%, selling 35,000 shares, now holding 90,000 shares valued at approximately $3.95 million.
• Analysts have a positive outlook on ON Holding AG, with multiple upgrades to price targets, resulting in a consensus rating of "Moderate Buy" and an average price target of $64.00.
• On Holding AG's stock opened at $49.99 and has exhibited a 1-year low of $34.59 and a high of $64.05.

Riposte Capital LLC lessened its stake in On Holding AG (NYSE:ONON - Free Report) by 28.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,000 shares of the company's stock after selling 35,000 shares during the quarter. ON makes up about 0.7% of Riposte Capital LLC's portfolio, making the stock its 20th biggest holding. Riposte Capital LLC's holdings in ON were worth $3,953,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC boosted its position in shares of ON by 22.2% during the 1st quarter. CWM LLC now owns 1,259 shares of the company's stock valued at $55,000 after acquiring an additional 229 shares during the last quarter. Sage Capital Advisors llc boosted its position in shares of ON by 0.3% during the 1st quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock valued at $4,406,000 after acquiring an additional 269 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of ON by 2.4% during the 4th quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company's stock valued at $743,000 after acquiring an additional 323 shares during the last quarter. Merit Financial Group LLC boosted its position 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 during the last quarter. Finally, Parallel Advisors LLC boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Trading Up 1.4%

NYSE:ONON traded up $0.72 on Tuesday, reaching $51.67. 1,858,739 shares of the company's stock were exchanged, compared to its average volume of 5,054,534. The business has a fifty day moving average of $54.61 and a 200-day moving average of $51.60. The company has a quick ratio of 2.18, a current ratio of 2.80 and a debt-to-equity ratio of 0.19. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The firm has a market capitalization of $32.54 billion, a price-to-earnings ratio of 73.86, a price-to-earnings-growth ratio of 2.85 and a beta of 2.25.

Analyst Ratings Changes

Several research analysts have recently weighed in on ONON shares. 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 research report on Monday, April 28th. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 price target on shares of ON in a research report on Tuesday, May 13th. Evercore ISI boosted their price target on shares of ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. UBS Group set a $75.00 price objective on shares of ON in a report on Wednesday, May 14th. Finally, Morgan Stanley reduced their price objective on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ON currently has an average rating of "Moderate Buy" and an average price target of $64.00.

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.