Prime Capital Investment Advisors LLC Cuts Stock Position in On Holding AG $ONON

Prime Capital Investment Advisors LLC lowered its holdings in shares of On Holding AG (NYSE:ONON) by 28.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,800 shares of the company’s stock after selling 3,120 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in ON were worth $406,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC grew its holdings in ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after buying an additional 315 shares in the last quarter. Montag A & Associates Inc. purchased a new position in shares of ON during the first quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in ON by 3,392.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after buying an additional 916 shares in the last quarter. Ramirez Asset Management Inc. purchased a new position in ON during the 1st quarter valued at approximately $44,000. Finally, MorganRosel Wealth Management LLC purchased a new position in ON during the 1st quarter valued at approximately $48,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Down 3.2%

Shares of NYSE:ONON opened at $41.93 on Friday. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The business has a 50 day simple moving average of $44.61 and a two-hundred day simple moving average of $48.68. The firm has a market capitalization of $26.40 billion, a PE ratio of 93.18, a price-to-earnings-growth ratio of 5.38 and a beta of 2.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

Wall Street Analyst Weigh In

ONON has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research note on Wednesday. Morgan Stanley lifted their price objective 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 cut shares of ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price objective for the company. in a research note on Tuesday, July 22nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $65.00 price target on shares of ON in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and an average target price of $64.20.

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.