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

Several other institutional investors also recently bought and sold shares of the business. Alliancebernstein L.P. raised its holdings in ON by 13.9% in the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company's stock valued at $869,388,000 after acquiring an additional 2,416,534 shares during the last quarter. Jennison Associates LLC raised its holdings in ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock valued at $212,943,000 after acquiring an additional 2,798,794 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in ON by 1.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company's stock valued at $149,136,000 after acquiring an additional 34,120 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in ON by 8.3% in the 1st quarter. 1832 Asset Management L.P. now owns 2,344,700 shares of the company's stock valued at $102,979,000 after acquiring an additional 178,750 shares during the last quarter. Finally, Nuveen LLC acquired a new position in ON in the 1st quarter valued at $102,850,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Down 0.7%

ON stock traded down $0.31 during trading on Friday, reaching $42.99. 3,856,532 shares of the company's stock were exchanged, compared to its average volume of 4,753,684. The company's 50-day moving average is $48.03 and its two-hundred day moving average is $49.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The firm has a market cap of $27.07 billion, a price-to-earnings ratio of 95.54, a PEG ratio of 5.54 and a beta of 2.23.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group boosted their price target on ON from $75.00 to $79.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price objective on ON and gave the stock an "underperform" rating in a report on Wednesday, August 13th. Morgan Stanley upped their price objective on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Barclays upped their price objective on ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $65.00 price objective on shares of ON in a report on Thursday, August 7th. One research 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 data from MarketBeat.com, ON has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

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.