Bamco Inc. NY Trims Stake in On Holding AG (NYSE:ONON)

Bamco Inc. NY lessened its holdings in On Holding AG (NYSE:ONON) by 0.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,156,895 shares of the company’s stock after selling 29,987 shares during the period. Bamco Inc. NY owned 0.50% of ON worth $158,318,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ONON. 1832 Asset Management L.P. increased its position in shares of ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after purchasing an additional 2,406,200 shares during the last quarter. Acadian Asset Management LLC grew its stake in ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after buying an additional 1,315,006 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of ON in the 2nd quarter worth $43,456,000. Renaissance Technologies LLC purchased a new stake in shares of ON during the 2nd quarter valued at $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Stock Up 0.7 %

Shares of ONON stock opened at $58.33 on Monday. The firm has a market capitalization of $36.73 billion, a price-to-earnings ratio of 135.65 and a beta of 2.25. The stock has a fifty day moving average of $51.16 and a 200 day moving average of $44.97. On Holding AG has a 52 week low of $25.78 and a 52 week high of $59.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ONON shares. HSBC assumed coverage on ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 price target on the stock. Morgan Stanley boosted their target price on ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price target on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. KeyCorp boosted their price objective on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Finally, UBS Group increased their target price on shares of ON from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $56.05.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.