CoreCap Advisors LLC Decreases Stake in On Holding AG (NYSE:ONON)

CoreCap Advisors LLC reduced its stake in shares of On Holding AG (NYSE:ONON) by 37.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 510 shares of the company’s stock after selling 300 shares during the period. CoreCap Advisors LLC’s holdings in ON were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in shares of ON during the 4th quarter valued at about $30,000. Legacy Bridge LLC acquired a new stake in ON in the fourth quarter valued at approximately $43,000. Bernard Wealth Management Corp. purchased a new position in shares of ON during the 4th quarter valued at approximately $44,000. Arcadia Investment Management Corp MI purchased a new position in shares of ON during the 4th quarter valued at approximately $53,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of ON during the 4th quarter valued at approximately $65,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Performance

ONON opened at $60.31 on Friday. The business has a 50 day moving average price of $45.87 and a 200 day moving average price of $51.63. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a market cap of $37.97 billion, a P/E ratio of 140.26, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30.

Wall Street Analysts Forecast Growth

ONON has been the topic of several research analyst reports. Truist Financial raised their price objective on ON from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday. Cowen reissued a “buy” rating on shares of ON in a report on Wednesday. Needham & Company LLC lifted their target price on ON from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays set a $68.00 target price on ON in a report on Wednesday. Finally, HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ON has a consensus rating of “Buy” and a consensus target price of $61.73.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.