Bamco Inc. NY Increases Position in On Holding AG $ONON

Bamco Inc. NY increased its stake in shares of On Holding AG (NYSE:ONON) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,139,974 shares of the company’s stock after purchasing an additional 132,756 shares during the quarter. Bamco Inc. NY owned approximately 0.66% of ON worth $215,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONON. Ramirez Asset Management Inc. raised its stake in shares of ON by 20.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares in the last quarter. Asset Management One Co. Ltd. increased its position in ON by 1.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock valued at $1,298,000 after buying an additional 243 shares in the last quarter. Lido Advisors LLC raised its stake in ON by 1.2% in the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock valued at $1,236,000 after buying an additional 285 shares during the last quarter. Sterling Investment Counsel LLC boosted its holdings in ON by 5.5% in the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock worth $299,000 after acquiring an additional 300 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of ON by 11.7% during the second quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock valued at $201,000 after acquiring an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Down 1.5%

Shares of ON stock opened at $48.73 on Friday. On Holding AG has a 12-month low of $34.38 and a 12-month high of $64.05. The firm has a market capitalization of $30.60 billion, a PE ratio of 63.29, a price-to-earnings-growth ratio of 2.93 and a beta of 2.16. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $42.08 and its 200-day moving average is $46.92.

Wall Street Analyst Weigh In

ONON has been the subject of several research analyst reports. Singular Research raised shares of ON to a “strong-buy” rating in a research report on Monday, November 17th. Evercore ISI dropped their price objective on shares of ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Needham & Company LLC reduced their target price on ON from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Jefferies Financial Group reiterated an “underperform” rating and set a $31.00 price target on shares of ON in a research note on Wednesday, November 12th. Finally, Barclays decreased their target price on ON from $69.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and a consensus target price of $61.27.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.