Victory Capital Management Inc. Sells 13,514 Shares of On Holding AG (NYSE:ONON)

Victory Capital Management Inc. lessened its stake in shares of On Holding AG (NYSE:ONON) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 749,593 shares of the company’s stock after selling 13,514 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of ON worth $41,055,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ONON. Private Trust Co. NA bought a new position in shares of ON during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in ON during the 3rd quarter valued at about $29,000. Strategic Financial Concepts LLC purchased a new stake in shares of ON during the fourth quarter valued at approximately $30,000. Legacy Bridge LLC purchased a new position in ON in the 4th quarter worth approximately $43,000. Finally, Arcadia Investment Management Corp MI bought a new position in ON in the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

ONON has been the subject of several recent analyst reports. Bank of America assumed coverage on ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target for the company. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. KeyCorp reissued an “overweight” rating and set a $68.00 price objective on shares of ON in a report on Wednesday. TD Cowen lifted their target price on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on ON from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.62.

ON Stock Performance

Shares of ON stock opened at $46.70 on Friday. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05. The company has a market capitalization of $29.40 billion, a P/E ratio of 108.61, a P/E/G ratio of 1.02 and a beta of 2.35. The company has a fifty day moving average of $54.90 and a 200 day moving average of $52.51.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.