9,042 Shares in On Holding AG (NYSE:ONON) Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC bought a new stake in On Holding AG (NYSE:ONON) during the third quarter, Holdings Channel.com reports. The fund bought 9,042 shares of the company’s stock, valued at approximately $453,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1832 Asset Management L.P. lifted its position in ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after purchasing an additional 2,406,200 shares during the period. Acadian Asset Management LLC grew its stake in ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after buying an additional 1,315,006 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of ON by 22.8% during the second quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock worth $44,734,000 after purchasing an additional 213,815 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in ON in the 2nd quarter valued at about $43,456,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ONON. KeyCorp lifted their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price objective on shares of ON in a research report on Tuesday, November 12th. Truist Financial increased their target price on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. HSBC assumed coverage on shares of ON in a research report on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price for the company. Finally, Morgan Stanley boosted their price target on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and an average target price of $56.38.

ON Stock Performance

Shares of NYSE ONON opened at $58.19 on Thursday. The stock’s fifty day moving average is $52.36 and its 200 day moving average is $46.02. The stock has a market capitalization of $36.64 billion, a P/E ratio of 135.33 and a beta of 2.30. On Holding AG has a 52 week low of $25.78 and a 52 week high of $60.12.

ON Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.