Sei Investments Co. Purchases 214,909 Shares of On Holding AG (NYSE:ONON)

Sei Investments Co. boosted its position in On Holding AG (NYSE:ONON) by 78.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 490,503 shares of the company’s stock after buying an additional 214,909 shares during the quarter. Sei Investments Co.’s holdings in ON were worth $26,865,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in shares of ON by 53.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,572 shares of the company’s stock valued at $380,000 after purchasing an additional 2,622 shares in the last quarter. Penserra Capital Management LLC boosted its stake in ON by 17.4% in the third quarter. Penserra Capital Management LLC now owns 33,801 shares of the company’s stock valued at $1,694,000 after buying an additional 5,000 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in ON in the third quarter valued at about $658,000. Private Trust Co. NA bought a new position in ON in the third quarter valued at about $26,000. Finally, Bank of Montreal Can raised its stake in ON by 27.2% during the third quarter. Bank of Montreal Can now owns 46,320 shares of the company’s stock worth $2,368,000 after acquiring an additional 9,895 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of ON in a report on Tuesday, March 4th. Barclays raised their price objective on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Citigroup began coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of ON in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $61.90.

ON Trading Down 0.7 %

Shares of ON stock opened at $47.99 on Wednesday. The company has a market cap of $30.22 billion, a P/E ratio of 111.61, a PEG ratio of 1.02 and a beta of 2.35. The business has a 50-day moving average price of $52.91 and a two-hundred day moving average price of $52.69. On Holding AG has a 1-year low of $29.84 and a 1-year high of $64.05.

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, 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.