SG Americas Securities LLC Has $5.60 Million Position in On Holding AG (NYSE:ONON)

SG Americas Securities LLC boosted its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 77.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,516 shares of the company's stock after acquiring an additional 55,791 shares during the quarter. SG Americas Securities LLC's holdings in ON were worth $5,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Strategic Financial Concepts LLC bought a new position in ON during the fourth quarter valued at approximately $30,000. Capital Advisors Inc. OK raised its position in ON by 3.2% during the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company's stock valued at $350,000 after acquiring an additional 200 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after acquiring an additional 349,789 shares in the last quarter. HMS Capital Management LLC bought a new position in ON during the fourth quarter valued at approximately $315,000. Finally, Banque Pictet & Cie SA raised its position in ON by 0.8% during the fourth quarter. Banque Pictet & Cie SA now owns 233,975 shares of the company's stock valued at $12,815,000 after acquiring an additional 1,950 shares in the last quarter. Institutional investors own 36.39% of the company's stock.

ON Stock Down 6.1%

ONON traded down $3.38 during trading on Friday, reaching $52.35. 9,332,644 shares of the company's stock were exchanged, compared to its average volume of 4,605,315. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The business has a 50 day moving average price of $51.51 and a 200 day moving average price of $52.46. The company has a market capitalization of $32.96 billion, a P/E ratio of 121.74, a PEG ratio of 1.02 and a beta of 2.35.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ONON shares. Jefferies Financial Group started coverage on shares of ON in a research report on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price target on the stock. Needham & Company LLC lifted their price target on shares of ON from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Truist Financial lifted their price target on shares of ON from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Robert W. Baird lifted their price target on shares of ON from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Finally, Raymond James reissued a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ON presently has an average rating of "Buy" and an average target price of $63.05.

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.