SG Americas Securities LLC Raises Stock Position in On Holding AG $ONON

SG Americas Securities LLC grew its position in On Holding AG (NYSE:ONON) by 65.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,968 shares of the company’s stock after buying an additional 59,027 shares during the period. SG Americas Securities LLC’s holdings in ON were worth $6,309,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ONON. Washington Trust Advisors Inc. acquired a new stake in ON during the second quarter worth $29,000. GAMMA Investing LLC lifted its stake in shares of ON by 5,888.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after purchasing an additional 1,060 shares during the last quarter. Ramirez Asset Management Inc. grew its holdings in shares of ON by 20.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares during the period. WD Rutherford LLC acquired a new stake in shares of ON during the 2nd quarter worth about $73,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in ON in the 2nd quarter valued at about $83,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the subject of several research analyst reports. Williams Trading lowered shares of ON from a “buy” rating to a “hold” rating and lowered their target price for the stock from $55.00 to $47.00 in a research note on Thursday. Truist Financial decreased their price objective on shares of ON from $69.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Zacks Research raised shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Raymond James Financial dropped their target price on shares of ON from $66.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, October 21st. Finally, Jefferies Financial Group restated an “underperform” rating and set a $31.00 price target on shares of ON in a research report on Wednesday, November 12th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.59.

ON Trading Down 3.0%

Shares of ONON stock opened at $49.10 on Friday. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $64.05. The company has a 50 day moving average price of $44.59 and a 200 day moving average price of $45.74. The stock has a market capitalization of $30.83 billion, a P/E ratio of 63.77, a price-to-earnings-growth ratio of 1.47 and a beta of 2.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55.

ON Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.