Select Equity Group L.P. trimmed its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 66.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,491,157 shares of the company's stock after selling 2,892,116 shares during the quarter. Select Equity Group L.P. owned 0.24% of ON worth $81,671,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Bridge LLC purchased a new stake in shares of ON in the 4th quarter valued at about $43,000. Bernard Wealth Management Corp. acquired a new position in ON during the 4th quarter worth approximately $44,000. Arcadia Investment Management Corp MI acquired a new stake in shares of ON in the 4th quarter worth approximately $53,000. VisionPoint Advisory Group LLC purchased a new stake in ON in the 4th quarter valued at approximately $65,000. Finally, Point72 Hong Kong Ltd purchased a new stake in ON in the 4th quarter valued at approximately $69,000. 36.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ONON shares. Williams Trading increased their price target on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Hsbc Global Res raised ON from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. Needham & Company LLC increased their target price on ON from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Truist Financial increased their target price on ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, UBS Group set a $75.00 target price on ON in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $62.45.
Read Our Latest Research Report on ONON
ON Stock Performance
Shares of NYSE ONON traded down $0.37 during midday trading on Tuesday, reaching $59.62. 3,065,218 shares of the company's stock were exchanged, compared to its average volume of 4,622,539. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The stock has a market capitalization of $37.54 billion, a PE ratio of 138.65, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The business's fifty day moving average price is $46.69 and its two-hundred day moving average price is $51.89.
ON Profile
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Free Report)
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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