Gabelli Funds LLC Increases Stock Position in On Holding AG (NYSE:ONON)

Gabelli Funds LLC boosted its stake in On Holding AG (NYSE:ONON - Free Report) by 29.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,800 shares of the company's stock after acquiring an additional 10,800 shares during the quarter. Gabelli Funds LLC's holdings in ON were worth $2,618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONON. Apollon Wealth Management LLC grew its holdings in ON by 74.0% in the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after buying an additional 6,808 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after purchasing an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of ON in the 4th quarter valued at approximately $30,000. Principal Financial Group Inc. raised its position in shares of ON by 96.5% during the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock valued at $5,104,000 after buying an additional 49,995 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in ON by 102.1% during the fourth quarter. New York State Common Retirement Fund now owns 221,820 shares of the company's stock worth $12,149,000 after buying an additional 112,078 shares during the period. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Performance

ONON traded up $1.27 on Wednesday, reaching $43.90. 3,514,074 shares of the company's stock were exchanged, compared to its average volume of 4,655,324. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The company's 50 day moving average is $45.84 and its 200-day moving average is $51.62. The company has a market cap of $27.64 billion, a price-to-earnings ratio of 102.10, a PEG ratio of 1.02 and a beta of 2.32.

Wall Street Analyst Weigh In

ONON has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on ON from $66.00 to $57.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Morgan Stanley lifted their price objective on shares of ON from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Williams Trading upped their price objective on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC decreased their target price on ON from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.00.

ON Company 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.