Victory Capital Management Inc. Cuts Stock Position in On Holding AG $ONON

Victory Capital Management Inc. decreased its holdings in shares of On Holding AG (NYSE:ONON) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 587,402 shares of the company’s stock after selling 60,198 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of ON worth $24,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in ON by 5,888.9% in the third quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after purchasing an additional 1,060 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of ON in the third quarter worth about $66,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of ON in the second quarter valued at about $83,000. CWM LLC raised its holdings in shares of ON by 119.8% during the 3rd quarter. CWM LLC now owns 2,789 shares of the company’s stock valued at $118,000 after buying an additional 1,520 shares during the period. Finally, MeadowBrook Investment Advisors LLC raised its holdings in shares of ON by 660.0% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 3,040 shares of the company’s stock valued at $129,000 after buying an additional 2,640 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

Shares of ONON opened at $41.29 on Tuesday. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 57.35, a PEG ratio of 0.79 and a beta of 2.14. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $45.95 and its two-hundred day moving average is $44.35. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Williams Trading cut ON from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $47.00 in a report on Thursday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price objective on shares of ON in a research note on Thursday, February 26th. TD Cowen boosted their target price on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Barclays lowered their price target on shares of ON from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Finally, Guggenheim dropped their price target on shares of ON from $59.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $59.41.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.