Sciencast Management LP Purchases 7,581 Shares of On Holding AG $ONON

Key Points

• Sciencast Management LP increased its stake in On Holding AG by 32.3%, owning 31,042 shares valued at approximately $1.36 million at the end of the first quarter.
• Institutional investors own 36.39% of On Holding's stock, with several funds significantly boosting their positions in the first quarter.
• Analysts have a generally positive outlook on ONON, with an average price target of $64.20 and a predominant rating of "Buy" or better.

Sciencast Management LP raised its holdings in On Holding AG (NYSE:ONON - Free Report) by 32.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,042 shares of the company's stock after acquiring an additional 7,581 shares during the quarter. Sciencast Management LP's holdings in ON were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in ON by 36.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,245 shares of the company's stock valued at $494,000 after buying an additional 3,025 shares in the last quarter. Citigroup Inc. lifted its stake in ON by 73.1% during the first quarter. Citigroup Inc. now owns 213,127 shares of the company's stock valued at $9,361,000 after buying an additional 89,982 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in ON by 151.2% during the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company's stock valued at $829,000 after buying an additional 11,362 shares in the last quarter. Quantitative Investment Management LLC purchased a new stake in ON during the first quarter valued at about $410,000. Finally, Jump Financial LLC lifted its stake in ON by 746.6% during the first quarter. Jump Financial LLC now owns 717,740 shares of the company's stock valued at $31,523,000 after buying an additional 632,965 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group set a $40.00 price objective on shares of ON and gave the company an "underperform" rating in a research note on Wednesday, August 13th. Barclays upped their price objective 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. Morgan Stanley upped their target price on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. UBS Group upped their target price on ON from $75.00 to $79.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $65.00 target price on shares of ON in a report on Thursday, August 7th. One 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 given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.20.

ON Stock Down 0.7%

NYSE:ONON traded down $0.31 during mid-day trading on Friday, reaching $42.99. The stock had a trading volume of 3,856,532 shares, compared to its average volume of 5,041,187. The business's 50 day moving average is $48.03 and its 200 day moving average is $49.25. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The stock has a market cap of $27.07 billion, a P/E ratio of 95.54, a PEG ratio of 5.59 and a beta of 2.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

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.