MassMutual Private Wealth & Trust FSB Acquires New Stake in On Holding AG (NYSE:ONON)

MassMutual Private Wealth & Trust FSB acquired a new stake in On Holding AG (NYSE:ONON) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 728 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ONON. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the 4th quarter worth $30,000. Park Square Financial Group LLC purchased a new position in shares of ON in the 4th quarter valued at about $32,000. Bernard Wealth Management Corp. purchased a new position in shares of ON in the 4th quarter valued at about $44,000. Arcadia Investment Management Corp MI purchased a new position in shares of ON in the 4th quarter valued at about $53,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of ON in the 4th quarter valued at about $65,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ONON shares. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Williams Trading boosted their target price on ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barclays set a $68.00 target price on ON in a research note on Wednesday, May 14th. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Tuesday, March 11th. Finally, Truist Financial boosted their target price on ON from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ON has an average rating of “Buy” and an average target price of $62.45.

ON Trading Down 1.0%

NYSE:ONON opened at $58.56 on Wednesday. The firm has a market cap of $36.87 billion, a P/E ratio of 136.19, a PEG ratio of 1.02 and a beta of 2.30. The stock’s 50 day simple moving average is $49.15 and its 200-day simple moving average is $52.48. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.