Victory Capital Management Inc. Trims Stake in On Holding AG (NYSE:ONON)

Victory Capital Management Inc. reduced its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 21.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 763,107 shares of the company's stock after selling 203,611 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of ON worth $38,270,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after purchasing an additional 400 shares in the last quarter. Quarry LP purchased a new position in ON during the second quarter valued at $32,000. MFA Wealth Advisors LLC bought a new stake in shares of ON during the 3rd quarter valued at $50,000. Finally, Asset Dedication LLC grew its position in shares of ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company's stock worth $62,000 after buying an additional 327 shares during the period. 33.11% of the stock is currently owned by institutional investors.

ON Trading Down 2.7 %

ONON stock traded down $1.43 during trading on Friday, reaching $51.92. The stock had a trading volume of 2,616,893 shares, compared to its average volume of 4,160,644. The firm has a market cap of $32.69 billion, a PE ratio of 120.75 and a beta of 2.25. The stock's 50 day moving average is $49.56 and its two-hundred day moving average is $43.25. On Holding AG has a 52 week low of $25.78 and a 52 week high of $56.44.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HSBC initiated coverage on shares of ON in a research report on Thursday, September 5th. They set a "hold" rating and a $52.00 price target for the company. Telsey Advisory Group reissued an "outperform" rating and issued a $53.00 price target on shares of ON in a research report on Tuesday, November 12th. Evercore ISI upgraded ON to an "overweight" rating and upped their price target for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Raymond James started coverage on ON in a research note on Wednesday, July 31st. They set an "outperform" rating and a $46.00 price objective for the company. Finally, BTIG Research raised ON from a "neutral" rating to a "buy" rating and set a $64.00 target price on the stock in a research note on Wednesday. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, ON presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.33.

ON 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.