MML Investors Services LLC Boosts Position in On Holding AG (NYSE:ONON)

MML Investors Services LLC raised its stake in On Holding AG (NYSE:ONON - Free Report) by 54.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,200 shares of the company's stock after purchasing an additional 15,313 shares during the quarter. MML Investors Services LLC's holdings in ON were worth $2,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. 1832 Asset Management L.P. raised its position in shares of ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company's stock valued at $93,500,000 after purchasing an additional 2,406,200 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company's stock worth $59,878,000 after acquiring an additional 1,315,006 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock worth $49,716,000 after purchasing an additional 642,894 shares in the last quarter. Fred Alger Management LLC grew its position in ON by 22.8% during 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 in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in ON in the second quarter worth $43,456,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ONON shares. Williams Trading upgraded ON from a "hold" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Hsbc Global Res raised shares of ON to a "hold" rating in a research note on Thursday, September 5th. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price target for the company in a report on Wednesday, November 13th. Stifel Nicolaus upped their target price on shares of ON from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Finally, Piper Sandler lifted their target price on ON from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ON presently has a consensus rating of "Moderate Buy" and an average target price of $56.38.

ON Stock Down 2.2 %

Shares of NYSE:ONON traded down $1.26 during trading on Tuesday, hitting $56.62. The stock had a trading volume of 3,655,400 shares, compared to its average volume of 4,812,339. On Holding AG has a 12 month low of $25.78 and a 12 month high of $60.12. The firm's fifty day moving average is $52.77 and its 200 day moving average is $46.38. The company has a market capitalization of $35.65 billion, a PE ratio of 131.68 and a beta of 2.30.

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.