Accredited Investors Inc. Purchases Shares of 5,100 On Holding AG (NYSE:ONON)

Accredited Investors Inc. acquired a new position in On Holding AG (NYSE:ONON) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,100 shares of the company’s stock, valued at approximately $256,000.

A number of other institutional investors also recently made changes to their positions in ONON. Price T Rowe Associates Inc. MD boosted its position in ON by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock valued at $98,636,000 after buying an additional 14,674 shares during the period. 1832 Asset Management L.P. raised its position in ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after purchasing an additional 2,406,200 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after buying an additional 1,315,006 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after buying an additional 642,894 shares during the last quarter. Finally, Fred Alger Management LLC increased its stake in shares of ON by 22.8% during the second quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock valued at $44,734,000 after buying an additional 213,815 shares during the period. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

ONON has been the topic of several recent analyst reports. Raymond James started coverage on shares of ON in a report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price target on the stock. Williams Trading raised ON from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $60.00 in a research report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 target price on shares of ON in a research report on Tuesday, November 12th. TD Cowen lifted their price target on ON from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Trading Down 2.7 %

ON stock opened at $51.92 on Friday. On Holding AG has a 12 month low of $25.78 and a 12 month high of $56.44. The stock has a fifty day simple moving average of $49.56 and a two-hundred day simple moving average of $43.25. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 120.75 and a beta of 2.25.

ON Company 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.