Park Avenue Securities LLC Cuts Stock Position in On Holding AG $ONON

Park Avenue Securities LLC cut its holdings in shares of On Holding AG (NYSE:ONON) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,279 shares of the company’s stock after selling 1,226 shares during the period. Park Avenue Securities LLC’s holdings in ON were worth $899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ONON. Jennison Associates LLC increased its stake in ON by 136.6% during the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after purchasing an additional 2,798,794 shares during the period. Alliancebernstein L.P. increased its stake in shares of ON by 13.9% during the first quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock worth $869,388,000 after buying an additional 2,416,534 shares during the period. Nuveen LLC purchased a new stake in shares of ON during the first quarter worth approximately $102,850,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of ON by 355.0% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company’s stock worth $39,967,000 after buying an additional 710,000 shares during the period. Finally, Jump Financial LLC increased its stake in shares of ON by 746.6% during the first quarter. Jump Financial LLC now owns 717,740 shares of the company’s stock worth $31,523,000 after buying an additional 632,965 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of recent research reports. Jefferies Financial Group set a $40.00 target price on shares of ON and gave the stock an “underperform” rating in a research note on Wednesday, August 13th. Morgan Stanley upped their target price on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Raymond James Financial lowered shares of ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 target price on the stock. in a research note on Tuesday, July 22nd. Telsey Advisory Group restated an “outperform” rating and set a $65.00 target price on shares of ON in a research note on Thursday, August 7th. Finally, UBS Group upped their price target on ON from $75.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.20.

ON Stock Performance

Shares of ONON opened at $42.49 on Friday. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 94.42, a price-to-earnings-growth ratio of 5.48 and a beta of 2.23. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The stock has a 50 day moving average price of $46.22 and a 200 day moving average price of $49.00. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

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.