Orion Portfolio Solutions LLC Makes New $1.50 Million Investment in On Holding AG (NYSE:ONON)

Orion Portfolio Solutions LLC bought a new stake in On Holding AG (NYSE:ONON - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 29,898 shares of the company's stock, valued at approximately $1,499,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC raised its stake in ON by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company's stock valued at $924,000 after buying an additional 300 shares in the last quarter. Capital Advisors Inc. OK lifted its stake in ON by 5.1% during the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company's stock worth $310,000 after purchasing an additional 301 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in ON by 3.2% during the second quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company's stock worth $404,000 after purchasing an additional 325 shares during the last quarter. Asset Dedication LLC increased its stake in ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company's stock valued at $62,000 after purchasing an additional 327 shares during the last quarter. Finally, Sage Capital Advisors llc raised its holdings in ON by 0.3% during the third quarter. Sage Capital Advisors llc now owns 99,859 shares of the company's stock worth $5,008,000 after purchasing an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ONON. Raymond James upgraded shares of ON from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $58.00 to $63.00 in a report on Thursday, November 21st. Truist Financial upped their price objective on shares of ON from $58.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Robert W. Baird lifted their target price on ON from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Needham & Company LLC started coverage on ON in a report on Friday, November 22nd. They issued a "buy" rating and a $64.00 target price for the company. Finally, Hsbc Global Res upgraded ON to a "hold" rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.38.

ON Stock Performance

NYSE:ONON traded down $0.30 during mid-day trading on Friday, reaching $57.30. The stock had a trading volume of 1,960,044 shares, compared to its average volume of 4,826,834. The business has a 50 day simple moving average of $52.63 and a 200 day simple moving average of $46.22. On Holding AG has a twelve month low of $25.78 and a twelve month high of $60.12. The firm has a market capitalization of $36.08 billion, a price-to-earnings ratio of 133.21 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.