Wealth Enhancement Advisory Services LLC Raises Stock Position in On Holding AG (NYSE:ONON)

Wealth Enhancement Advisory Services LLC grew its holdings in On Holding AG (NYSE:ONON - Free Report) by 241.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,930 shares of the company's stock after purchasing an additional 45,223 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in ON were worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ONON. Park Square Financial Group LLC acquired a new stake in ON in the fourth quarter worth $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of ON in the 1st quarter valued at about $32,000. Bernard Wealth Management Corp. acquired a new stake in shares of ON in the 4th quarter valued at about $44,000. Point72 Hong Kong Ltd bought a new stake in ON in the 4th quarter valued at about $69,000. Finally, Parallel Advisors LLC raised its stake in ON by 53.4% during the 1st quarter. Parallel Advisors LLC now owns 1,292 shares of the company's stock worth $57,000 after buying an additional 450 shares during the period. Institutional investors own 36.39% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ONON. Evercore ISI upped their target price on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Jefferies Financial Group began coverage on ON in a report on Tuesday, April 1st. They set a "hold" rating and a $44.00 price objective for the company. Robert W. Baird increased their price target on ON from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Needham & Company LLC increased their target price on shares of ON from $55.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $63.85.

ON Stock Performance

Shares of NYSE ONON traded up $0.23 during midday trading on Tuesday, hitting $52.28. The company's stock had a trading volume of 4,708,491 shares, compared to its average volume of 4,635,061. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The firm has a market capitalization of $32.92 billion, a price-to-earnings ratio of 74.69, a P/E/G ratio of 2.97 and a beta of 2.26. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $53.83 and a 200 day moving average price of $52.03.

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.