Voya Investment Management LLC Sells 37,242 Shares of On Holding AG $ONON

Key Points

• Voya Investment Management LLC has sold 37,242 shares of On Holding AG, reducing its holdings by 5.8% to a total of 602,830 shares, valued at approximately $26.5 million.
• Several institutional investors have increased their stakes in On Holding AG, with Sciencast Management LP leading the way by boosting its holdings by 32.3% during the same period.
• Wall Street analysts have given mixed ratings on On Holding AG, with price targets ranging from $40.00 to $79.00 and an average rating of "Moderate Buy" based on analysts' assessments.

Voya Investment Management LLC lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,830 shares of the company's stock after selling 37,242 shares during the period. Voya Investment Management LLC owned approximately 0.10% of ON worth $26,476,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Sciencast Management LP lifted its holdings in shares of ON by 32.3% during the 1st quarter. Sciencast Management LP now owns 31,042 shares of the company's stock valued at $1,363,000 after purchasing an additional 7,581 shares in the last quarter. First Dallas Securities Inc. lifted its holdings in shares of ON by 13.5% during the 1st quarter. First Dallas Securities Inc. now owns 14,290 shares of the company's stock valued at $628,000 after purchasing an additional 1,695 shares in the last quarter. Guardian Partners Inc. lifted its holdings in shares of ON by 26.1% during the 1st quarter. Guardian Partners Inc. now owns 25,150 shares of the company's stock valued at $1,105,000 after purchasing an additional 5,200 shares in the last quarter. ThornTree Capital Partners LP lifted its holdings in shares of ON by 23.6% during the 1st quarter. ThornTree Capital Partners LP now owns 450,282 shares of the company's stock valued at $19,776,000 after purchasing an additional 86,120 shares in the last quarter. Finally, Panoramic Capital LLC bought a new position in shares of ON during the 1st quarter valued at about $439,000. Institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ONON. UBS Group lifted their price objective 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 target price on ON and gave the company an "underperform" rating in a research note on Wednesday, August 13th. Barclays boosted their target price on ON from $68.00 to $69.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley boosted their target price on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Needham & Company LLC restated a "buy" rating and issued a $62.00 target price on shares of ON in a research note on Tuesday, August 12th. 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.20.

ON Stock Down 0.7%

NYSE:ONON opened at $42.99 on Monday. The firm has a market capitalization of $27.07 billion, a price-to-earnings ratio of 95.54, a price-to-earnings-growth ratio of 5.54 and a beta of 2.23. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The stock's 50 day moving average price is $48.03 and its two-hundred day moving average price is $49.26. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

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.

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