Mane Global Capital Management LP Decreases Position in On Holding AG $ONON

Mane Global Capital Management LP reduced its position in shares of On Holding AG (NYSE:ONON) by 21.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 547,099 shares of the company’s stock after selling 153,722 shares during the period. Mane Global Capital Management LP’s holdings in ON were worth $28,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ramirez Asset Management Inc. increased its position in shares of ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after purchasing an additional 200 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in ON by 1.0% in the 2nd quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock valued at $1,298,000 after purchasing an additional 243 shares in the last quarter. Lido Advisors LLC boosted its stake in ON by 1.2% during the 2nd quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock worth $1,236,000 after purchasing an additional 285 shares during the last quarter. Sterling Investment Counsel LLC grew its holdings in shares of ON by 5.5% during the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock worth $299,000 after buying an additional 300 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of ON by 11.7% during the second quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock worth $201,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays lowered their price target on shares of ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research note on Wednesday, October 8th. Telsey Advisory Group restated an “outperform” rating and set a $65.00 target price on shares of ON in a report on Thursday, November 13th. UBS Group upped their price target on ON from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, TD Cowen lifted their price objective on ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.27.

ON Stock Performance

NYSE:ONON opened at $48.70 on Thursday. The company’s 50-day moving average is $41.81 and its two-hundred day moving average is $46.97. On Holding AG has a 1-year low of $34.38 and a 1-year high of $64.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The firm has a market capitalization of $30.58 billion, a price-to-earnings ratio of 63.25, a PEG ratio of 2.80 and a beta of 2.16.

About ON

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.