Abacus FCF Advisors LLC Buys New Shares in On Holding AG (NYSE:ONON)

Abacus FCF Advisors LLC purchased a new stake in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,356 shares of the company's stock, valued at approximately $567,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Apollon Wealth Management LLC lifted its holdings in shares of ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock worth $877,000 after buying an additional 6,808 shares in the last quarter. RB Capital Management LLC lifted its holdings in shares of ON by 214.8% in the third quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock worth $1,125,000 after acquiring an additional 15,303 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after buying an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in ON during the 4th quarter worth $30,000. Finally, Principal Financial Group Inc. grew its holdings in shares of ON by 96.5% during the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock worth $5,104,000 after purchasing an additional 49,995 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ONON shares. Piper Sandler lowered their target price on ON from $62.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday. Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. UBS Group upped their price objective on shares of ON from $65.00 to $73.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 price target on shares of ON in a report on Tuesday, April 1st. Finally, Williams Trading lifted their target price on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.00.

ON Stock Down 0.1 %

Shares of NYSE ONON traded down $0.05 during mid-day trading on Monday, reaching $43.46. 1,222,864 shares of the company were exchanged, compared to its average volume of 5,209,558. The company's 50 day moving average price is $47.73 and its 200 day moving average price is $52.01. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The stock has a market capitalization of $27.36 billion, a PE ratio of 101.07, a PEG ratio of 1.02 and a beta of 2.32.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.