Prime Capital Investment Advisors LLC Lowers Holdings in On Holding AG $ONON

Prime Capital Investment Advisors LLC cut its position in On Holding AG (NYSE:ONON) by 28.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,800 shares of the company’s stock after selling 3,120 shares during the period. Prime Capital Investment Advisors LLC’s holdings in ON were worth $406,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ONON. Jennison Associates LLC raised its holdings in ON by 136.6% in the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock worth $212,943,000 after buying an additional 2,798,794 shares during the last quarter. Alliancebernstein L.P. raised its holdings in ON by 13.9% in the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock worth $869,388,000 after acquiring an additional 2,416,534 shares during the last quarter. Nuveen LLC purchased a new position in ON in the 1st quarter worth approximately $102,850,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of ON in the second quarter worth $41,208,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of ON by 355.0% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company’s stock worth $39,967,000 after purchasing an additional 710,000 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James Financial cut ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price target for the company. in a research note on Tuesday, July 22nd. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of ON in a research report on Tuesday, August 12th. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 target price on shares of ON in a research report on Thursday, August 7th. UBS Group boosted their price objective on shares of ON from $75.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Finally, Barclays boosted their price objective on shares of ON from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.20.

ON Price Performance

NYSE ONON opened at $41.93 on Friday. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The firm has a market capitalization of $26.40 billion, a P/E ratio of 93.18, a PEG ratio of 5.38 and a beta of 2.19. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $44.61 and a 200-day moving average price of $48.68.

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.