Mirae Asset Global Investments Co. Ltd. Buys Shares of 2,915 On Holding AG $ONON

Mirae Asset Global Investments Co. Ltd. bought a new stake in On Holding AG (NYSE:ONON) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,915 shares of the company’s stock, valued at approximately $152,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC raised its stake in ON by 22.2% during the first quarter. CWM LLC now owns 1,259 shares of the company’s stock worth $55,000 after acquiring an additional 229 shares in the last quarter. TCTC Holdings LLC grew its holdings in shares of ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 315 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in shares of ON by 0.6% during the 2nd quarter. Wesbanco Bank Inc. now owns 69,303 shares of the company’s stock valued at $3,607,000 after purchasing an additional 421 shares during the last quarter. Sage Capital Advisors llc grew its holdings in shares of ON by 0.5% during the 2nd quarter. Sage Capital Advisors llc now owns 100,812 shares of the company’s stock valued at $5,247,000 after purchasing an additional 483 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its position in ON by 4.2% in the first quarter. Artemis Investment Management LLP now owns 12,715 shares of the company’s stock valued at $558,000 after buying an additional 517 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ONON shares. Barclays raised their target price on shares of ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 target price on shares of ON in a report on Thursday, August 7th. Raymond James Financial cut ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price target on the stock. in a report on Tuesday, July 22nd. Finally, Morgan Stanley boosted their price target on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average price target of $64.20.

ON Trading Down 3.2%

Shares of ONON stock opened at $41.93 on Friday. The company has a market cap of $26.40 billion, a P/E ratio of 93.18, a PEG ratio of 5.20 and a beta of 2.19. The stock has a 50 day simple moving average of $44.61 and a two-hundred day simple moving average of $48.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.