SG Americas Securities LLC Raises Holdings in On Holding AG $ONON

SG Americas Securities LLC grew its stake in On Holding AG (NYSE:ONON) by 65.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 148,968 shares of the company’s stock after buying an additional 59,027 shares during the quarter. SG Americas Securities LLC’s holdings in ON were worth $6,309,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ONON. Public Employees Retirement System of Ohio increased its position in shares of ON by 106.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock valued at $3,570,000 after purchasing an additional 35,391 shares during the last quarter. Red Spruce Capital LLC lifted its position in shares of ON by 64.8% during the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock worth $1,851,000 after purchasing an additional 13,980 shares during the last quarter. Norges Bank acquired a new position in shares of ON during the second quarter worth $138,641,000. Bessemer Group Inc. purchased a new position in ON in the second quarter valued at $43,344,000. Finally, Allianz Asset Management GmbH acquired a new stake in ON in the second quarter valued at $3,321,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ONON. BTIG Research reaffirmed a “buy” rating and set a $70.00 price target on shares of ON in a report on Tuesday, November 4th. Morgan Stanley boosted their target price on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Bank of America increased their price target on shares of ON from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Singular Research upgraded shares of ON to a “strong-buy” rating in a research report on Monday, November 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of ON in a research report on Monday, January 5th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.59.

ON Stock Performance

Shares of ONON opened at $49.10 on Friday. The company’s 50 day simple moving average is $44.59 and its 200-day simple moving average is $45.74. The firm has a market cap of $30.83 billion, a PE ratio of 63.77, a price-to-earnings-growth ratio of 1.47 and a beta of 2.15. On Holding AG has a 12-month low of $34.38 and a 12-month high of $64.05. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28.

ON Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.