Bamco Inc. NY Sells 29,987 Shares of On Holding AG (NYSE:ONON)

Bamco Inc. NY decreased its position in On Holding AG (NYSE:ONON) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,156,895 shares of the company’s stock after selling 29,987 shares during the quarter. Bamco Inc. NY’s holdings in ON were worth $158,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1832 Asset Management L.P. increased its stake in shares of ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Acadian Asset Management LLC grew its holdings in ON by 574.3% in the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after purchasing an additional 1,315,006 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of ON during the second quarter valued at approximately $43,456,000. Renaissance Technologies LLC bought a new stake in shares of ON in the 2nd quarter worth approximately $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after purchasing an additional 642,894 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Up 0.7 %

ON stock opened at $58.33 on Monday. The business has a 50-day simple moving average of $51.16 and a two-hundred day simple moving average of $44.97. On Holding AG has a 52-week low of $25.78 and a 52-week high of $59.19. The company has a market cap of $36.73 billion, a P/E ratio of 135.65 and a beta of 2.25.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ONON. Evercore ISI upgraded ON to an “overweight” rating and lifted their price objective for the company from $43.00 to $47.00 in a research note on Monday, August 12th. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Wednesday, November 13th. Robert W. Baird increased their price objective on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lifted their target price on shares of ON from $45.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Truist Financial increased their price target on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.05.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.