On Holding AG (NYSE:ONON) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its position in On Holding AG (NYSE:ONON) by 189.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 719,493 shares of the company’s stock after purchasing an additional 471,323 shares during the quarter. Cerity Partners LLC owned approximately 0.11% of ON worth $36,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ONON. Blue Trust Inc. raised its holdings 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 in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of ON in the 3rd quarter valued at $29,000. Quarry LP purchased a new position in shares of ON in the 2nd quarter valued at $32,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of ON in the 3rd quarter valued at $50,000. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

NYSE:ONON opened at $58.13 on Friday. The stock has a market capitalization of $36.60 billion, a price-to-earnings ratio of 135.19 and a beta of 2.25. On Holding AG has a 1 year low of $25.78 and a 1 year high of $58.51. The stock has a fifty day moving average price of $50.34 and a two-hundred day moving average price of $43.94.

Analyst Ratings Changes

A number of research firms recently commented on ONON. Piper Sandler increased their target price on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Morgan Stanley increased their target price on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Wednesday, November 13th. Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Finally, HSBC initiated coverage on shares of ON in a research note on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.05.

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.