GAM Holding AG Sells 96,100 Shares of On Holding AG (NYSE:ONON)

GAM Holding AG decreased its holdings in On Holding AG (NYSE:ONON - Free Report) by 34.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,300 shares of the company's stock after selling 96,100 shares during the period. GAM Holding AG's holdings in ON were worth $10,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ONON. Jennison Associates LLC grew its holdings in ON by 27.4% during the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock valued at $112,259,000 after buying an additional 440,685 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after acquiring an additional 349,789 shares in the last quarter. Cerity Partners LLC increased its holdings in ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company's stock worth $36,083,000 after acquiring an additional 471,323 shares during the period. Lord Abbett & CO. LLC increased its holdings in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock worth $29,834,000 after acquiring an additional 459,157 shares during the period. Finally, Wasatch Advisors LP lifted its stake in ON by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company's stock worth $21,040,000 after purchasing an additional 17,362 shares in the last quarter. Institutional investors own 36.39% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ONON shares. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. Barclays lifted their price target on ON from $47.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of ON from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. KeyCorp lifted their target price on shares of ON from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Finally, UBS Group reissued a "buy" rating and issued a $63.00 price target on shares of ON in a research note on Friday, December 27th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.73.

ON Price Performance

ONON traded down $2.98 during trading on Friday, hitting $48.23. 6,438,252 shares of the stock traded hands, compared to its average volume of 3,854,274. The firm has a market capitalization of $30.37 billion, a P/E ratio of 112.16, a price-to-earnings-growth ratio of 1.04 and a beta of 2.30. On Holding AG has a 12-month low of $27.37 and a 12-month high of $64.05. The firm has a 50-day moving average of $56.37 and a 200 day moving average of $51.91.

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.