Merit Financial Group LLC Buys New Stake in On Holding AG (NYSE:ONON)

Merit Financial Group LLC bought a new position in On Holding AG (NYSE:ONON - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,927 shares of the company's stock, valued at approximately $653,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ONON. Cerity Partners LLC grew its position in ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company's stock worth $36,083,000 after purchasing an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC grew its position in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock worth $29,834,000 after purchasing an additional 459,157 shares during the last quarter. Fred Alger Management LLC grew its position in ON by 22.8% in the 2nd 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. Zurich Insurance Group Ltd FI bought a new position in ON in the 3rd quarter worth about $10,263,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in ON in the 3rd quarter worth about $8,425,000. Institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ONON shares. Williams Trading raised shares of ON from a "hold" rating to a "buy" rating and upped their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 price target on shares of ON in a research note on Wednesday, January 15th. UBS Group reissued a "buy" rating and set a $63.00 target price on shares of ON in a research note on Friday, December 27th. Barclays increased their target price on shares of ON from $47.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Finally, Raymond James raised shares of ON from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ON has a consensus rating of "Moderate Buy" and an average price target of $59.73.

ON Trading Up 3.3 %

ONON stock traded up $1.94 during midday trading on Thursday, reaching $60.50. The company had a trading volume of 3,570,052 shares, compared to its average volume of 3,049,422. On Holding AG has a 1 year low of $26.03 and a 1 year high of $60.69. The company has a market capitalization of $38.09 billion, a P/E ratio of 140.69, a PEG ratio of 1.23 and a beta of 2.30. The company has a 50 day moving average of $56.37 and a two-hundred day moving average of $49.28.

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.