Wealth Enhancement Advisory Services LLC Has $2.81 Million Stock Holdings in On Holding AG (NYSE:ONON)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in ONON. Norges Bank bought a new stake in shares of ON during the 4th quarter worth approximately $164,574,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of ON during the 4th quarter worth approximately $78,799,000. Axiom Investors LLC DE bought a new stake in shares of ON during the 4th quarter worth approximately $39,320,000. BNP Paribas Financial Markets bought a new stake in shares of ON during the 4th quarter worth approximately $39,119,000. Finally, Raymond James Financial Inc. bought a new stake in shares of ON during the 4th quarter worth approximately $28,575,000. Institutional investors own 36.39% of the company's stock.

ON Trading Up 1.8%

Shares of ONON traded up $0.94 during trading hours on Friday, hitting $52.53. 26,312,064 shares of the stock were exchanged, compared to its average volume of 4,629,940. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. The business has a 50-day moving average of $53.42 and a 200-day moving average of $52.11. The firm has a market capitalization of $33.08 billion, a P/E ratio of 75.05, a price-to-earnings-growth ratio of 3.00 and a beta of 2.35.

Analyst Ratings Changes

Several brokerages recently commented on ONON. Barclays set a $68.00 price objective on shares of ON in a research note on Wednesday, May 14th. UBS Group set a $75.00 price objective on shares of ON in a research note on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Needham & Company LLC increased their price objective on shares of ON from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Cowen restated a "buy" rating on shares of ON in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $63.85.

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.