Migdal Insurance & Financial Holdings Ltd. Takes $10.95 Million Position in On Holding AG (NYSE:ONON)

Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of On Holding AG (NYSE:ONON - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the company's stock, valued at approximately $10,954,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ONON. Creative Planning grew its holdings in ON by 13.6% during the 2nd quarter. Creative Planning now owns 17,619 shares of the company's stock valued at $684,000 after purchasing an additional 2,115 shares during the last quarter. Truist Financial Corp purchased a new position in shares of ON in the 2nd quarter worth approximately $463,000. Sanctuary Advisors LLC acquired a new position in shares of ON during the second quarter worth $1,108,000. Park Avenue Securities LLC grew its stake in shares of ON by 19.5% during the third quarter. Park Avenue Securities LLC now owns 13,441 shares of the company's stock worth $674,000 after acquiring an additional 2,194 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of ON in the third quarter worth $3,234,000. 36.39% of the stock is currently owned by institutional investors.

ON Price Performance

Shares of ONON traded down $1.14 during mid-day trading on Monday, hitting $55.27. The company's stock had a trading volume of 3,954,088 shares, compared to its average volume of 3,410,297. The firm has a 50-day moving average price of $57.42 and a 200 day moving average price of $51.16. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05. The stock has a market capitalization of $34.80 billion, a price-to-earnings ratio of 128.54, a PEG ratio of 1.20 and a beta of 2.30.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Telsey Advisory Group reaffirmed an "outperform" rating and set a $67.00 price objective on shares of ON in a research note on Wednesday, January 15th. Stifel Nicolaus raised their price target on ON from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. BTIG Research raised ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective for the company in a research report on Wednesday, November 13th. Citigroup assumed coverage on shares of ON in a research report on Wednesday, December 18th. They set a "neutral" rating and a $65.00 price objective for the company. Finally, UBS Group reiterated a "buy" rating and set a $63.00 price target on shares of ON in a research note on Friday, December 27th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ON presently has an average rating of "Moderate Buy" and an average price target of $59.73.

About ON

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.