On Holding AG (NYSE:ONON) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. reduced its stake in On Holding AG (NYSE:ONON - Free Report) by 33.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,882 shares of the company's stock after selling 34,400 shares during the quarter. Wesbanco Bank Inc.'s holdings in ON were worth $3,773,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ONON. Capricorn Fund Managers Ltd purchased a new stake in ON in the 4th quarter worth approximately $3,536,000. Merit Financial Group LLC acquired a new stake in shares of ON during the fourth quarter worth $653,000. Park Avenue Securities LLC grew its position in shares of ON by 19.1% in the fourth quarter. Park Avenue Securities LLC now owns 16,006 shares of the company's stock valued at $877,000 after purchasing an additional 2,565 shares during the period. Tsfg LLC increased its stake in ON by 143.6% in the fourth quarter. Tsfg LLC now owns 3,338 shares of the company's stock valued at $183,000 after purchasing an additional 1,968 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC lifted its position in ON by 3.7% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 64,830 shares of the company's stock worth $3,584,000 after buying an additional 2,330 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ONON. Barclays upped their price objective on shares of ON from $47.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. UBS Group reaffirmed a "buy" rating and set a $63.00 price target on shares of ON in a research report on Friday, December 27th. Needham & Company LLC reiterated a "buy" rating and issued a $64.00 price target on shares of ON in a report on Wednesday, January 15th. Stifel Nicolaus upped their price objective on ON from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, Piper Sandler increased their target price on ON from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ON has an average rating of "Moderate Buy" and a consensus price target of $59.73.

ON Trading Up 3.3 %

ONON stock traded up $1.94 during trading on Thursday, reaching $60.50. The stock had a trading volume of 3,570,052 shares, compared to its average volume of 3,049,422. The firm has a fifty day moving average price of $56.37 and a 200 day moving average price of $49.28. The company has a market capitalization of $38.09 billion, a P/E ratio of 140.69, a PEG ratio of 1.23 and a beta of 2.30. On Holding AG has a 1-year low of $26.03 and a 1-year high of $60.69.

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.