Oppenheimer & Co. Inc. Sells 11,890 Shares of On Holding AG $ONON

Oppenheimer & Co. Inc. decreased its holdings in shares of On Holding AG (NYSE:ONON) by 71.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,736 shares of the company’s stock after selling 11,890 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ON were worth $201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. acquired a new position in shares of ON during the 2nd quarter worth about $29,000. GAMMA Investing LLC raised its holdings in ON by 5,888.9% during the third quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock worth $46,000 after acquiring an additional 1,060 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in ON during the second quarter valued at approximately $83,000. CWM LLC boosted its position in ON by 119.8% during the third quarter. CWM LLC now owns 2,789 shares of the company’s stock valued at $118,000 after purchasing an additional 1,520 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC grew its stake in ON by 660.0% in the third quarter. MeadowBrook Investment Advisors LLC now owns 3,040 shares of the company’s stock valued at $129,000 after purchasing an additional 2,640 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ONON shares. Bank of America upped their price objective on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Stifel Nicolaus set a $60.00 price target on shares of ON in a research report on Wednesday, January 28th. Citigroup cut shares of ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Morgan Stanley boosted their price objective on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a report on Thursday, January 22nd. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average target price of $59.86.

ON Trading Up 1.5%

Shares of NYSE:ONON opened at $48.05 on Friday. On Holding AG has a 12-month low of $34.38 and a 12-month high of $61.29. The business has a 50 day moving average of $46.52 and a 200-day moving average of $44.44. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The stock has a market cap of $30.17 billion, a PE ratio of 62.40, a P/E/G ratio of 1.42 and a beta of 2.15.

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.