Triangle Securities Wealth Management Takes Position in On Holding AG $ONON

Key Points

• Triangle Securities Wealth Management has made a new investment of $782,000 in On Holding AG, acquiring 15,030 shares in the company during the second quarter.
• Several hedge funds have recently increased their stakes in On Holding AG, with 36.39% of the stock now held by institutional investors.
• Analysts have mixed ratings on On Holding AG, with a consensus rating of "Moderate Buy" and a consensus price target of $64.20.

Triangle Securities Wealth Management bought a new position in On Holding AG (NYSE:ONON - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,030 shares of the company's stock, valued at approximately $782,000.

A number of other hedge funds also recently bought and sold shares of the business. CWM LLC increased its holdings in shares of ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company's stock valued at $55,000 after purchasing an additional 229 shares during the last quarter. Sage Capital Advisors llc increased its holdings in shares of ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock valued at $4,406,000 after purchasing an additional 269 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after purchasing an additional 315 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of ON by 2.9% in the first quarter. Merit Financial Group LLC now owns 12,275 shares of the company's stock valued at $539,000 after purchasing an additional 348 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its holdings in shares of ON by 0.6% in the second quarter. Wesbanco Bank Inc. now owns 69,303 shares of the company's stock valued at $3,607,000 after purchasing an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $62.00 price objective on shares of ON in a research note on Tuesday, August 12th. UBS Group lifted their price target on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Raymond James Financial downgraded ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price target for the company. in a report on Tuesday, July 22nd. Telsey Advisory Group reiterated an "outperform" rating and set a $65.00 target price on shares of ON in a research report on Thursday, August 7th. Finally, Morgan Stanley upped their price objective on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ON presently has an average rating of "Moderate Buy" and an average target price of $64.20.

ON Trading Up 0.7%

Shares of ONON stock traded up $0.34 on Monday, hitting $45.57. The stock had a trading volume of 5,492,416 shares, compared to its average volume of 5,431,693. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a market cap of $28.69 billion, a P/E ratio of 101.26, a PEG ratio of 5.84 and a beta of 2.23. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $47.09 and a two-hundred day moving average price of $49.06.

ON 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.