Fred Alger Management LLC Trims Holdings in On Holding AG (NYSE:ONON)

Fred Alger Management LLC cut its position in shares of On Holding AG (NYSE:ONON - Free Report) by 37.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 722,665 shares of the company's stock after selling 430,276 shares during the period. Fred Alger Management LLC owned approximately 0.11% of ON worth $36,242,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ONON. Private Trust Co. NA bought a new stake in shares of ON during the third quarter worth $26,000. Blue Trust Inc. lifted its holdings in ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after buying an additional 403 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in ON in the 3rd quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of ON during the second quarter worth approximately $32,000. 33.11% of the stock is currently owned by institutional investors.

ON Stock Up 0.7 %

Shares of ON stock traded up $0.43 during midday trading on Friday, hitting $58.33. The company had a trading volume of 1,290,222 shares, compared to its average volume of 4,905,145. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 135.68 and a beta of 2.25. On Holding AG has a 12-month low of $25.78 and a 12-month high of $59.19. The company has a fifty day simple moving average of $51.16 and a 200 day simple moving average of $44.85.

Analyst Ratings Changes

A number of analysts recently issued reports on ONON shares. The Goldman Sachs Group boosted their price target on ON from $50.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. KeyCorp increased their price target on ON from $47.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, September 26th. Evercore ISI upgraded ON to an "overweight" rating and lifted their price objective for the company from $43.00 to $47.00 in a report on Monday, August 12th. BTIG Research upgraded shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 target price on the stock in a report on Wednesday, November 13th. Finally, Robert W. Baird boosted their price target on shares of ON from $55.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Four equities research 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 stock. According to data from MarketBeat.com, ON currently has an average rating of "Moderate Buy" and an average price target of $56.05.

ON Company 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.