Wellington Management Group LLP lowered its holdings in On Holding AG (NYSE:ONON – Free Report) by 12.3% during the third quarter, Holdings Channel.com reports. The firm owned 5,304,753 shares of the company’s stock after selling 744,849 shares during the period. Wellington Management Group LLP’s holdings in ON were worth $266,033,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new stake in ON in the third quarter valued at $26,000. Blue Trust Inc. raised its position in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in ON in the third quarter valued at $29,000. Finally, Quarry LP purchased a new stake in ON in the second quarter valued at $32,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.
ON Stock Performance
NYSE:ONON opened at $57.64 on Friday. The stock has a 50-day simple moving average of $51.96 and a 200-day simple moving average of $45.66. The stock has a market cap of $36.29 billion, a P/E ratio of 134.05 and a beta of 2.30. On Holding AG has a 1 year low of $25.78 and a 1 year high of $60.12.
Wall Street Analyst Weigh In
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.
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