Chung Wu Investment Group LLC Makes New $233,000 Investment in On Holding AG (NYSE:ONON)

Chung Wu Investment Group LLC acquired a new stake in shares of On Holding AG (NYSE:ONON) during the first quarter, Holdings Channel.com reports. The fund acquired 5,300 shares of the company’s stock, valued at approximately $233,000.

A number of other institutional investors have also made changes to their positions in ONON. Aurora Private Wealth Inc. acquired a new position in ON in the 1st quarter worth $591,000. Harbour Capital Advisors LLC purchased a new position in ON in the first quarter valued at about $237,000. APEIRON CAPITAL Ltd grew its stake in ON by 35.9% during the 1st quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company’s stock valued at $43,882,000 after purchasing an additional 264,000 shares in the last quarter. Ridgecrest Wealth Partners LLC purchased a new stake in ON during the 1st quarter worth approximately $1,823,000. Finally, Congress Park Capital LLC raised its position in shares of ON by 13.5% in the 1st quarter. Congress Park Capital LLC now owns 30,120 shares of the company’s stock valued at $1,323,000 after purchasing an additional 3,593 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONON has been the subject of a number of recent analyst reports. Citigroup raised shares of ON from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $65.00 to $60.00 in a research report on Monday, April 28th. Evercore ISI boosted their target price on shares of ON from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. Williams Trading increased their price target on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Truist Financial boosted their price objective on ON from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of ON in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ON currently has an average rating of “Buy” and an average target price of $63.85.

ON Stock Performance

Shares of ONON stock opened at $51.44 on Thursday. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The firm has a market capitalization of $32.39 billion, a price-to-earnings ratio of 73.49, a price-to-earnings-growth ratio of 3.00 and a beta of 2.35. The business has a 50 day simple moving average of $53.04 and a 200 day simple moving average of $52.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18.

About ON

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.