Index Fund Advisors Inc. Buys Shares of 5,773 On Holding AG $ONON

Index Fund Advisors Inc. bought a new stake in On Holding AG (NYSE:ONON) during the second quarter, Holdings Channel.com reports. The firm bought 5,773 shares of the company’s stock, valued at approximately $300,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ramirez Asset Management Inc. boosted its position in ON by 20.0% in the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after buying an additional 200 shares in the last quarter. CWM LLC boosted its position in ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company’s stock valued at $55,000 after buying an additional 229 shares in the last quarter. Sterling Investment Counsel LLC boosted its position in ON by 5.5% in the second quarter. Sterling Investment Counsel LLC now owns 5,750 shares of the company’s stock valued at $299,000 after buying an additional 300 shares in the last quarter. TCTC Holdings LLC boosted its position in ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company’s stock valued at $26,000 after buying an additional 315 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in ON by 0.6% in the second quarter. Wesbanco Bank Inc. now owns 69,303 shares of the company’s stock valued at $3,607,000 after buying an additional 421 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ONON. Barclays lifted their price target on shares of ON from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Morgan Stanley lifted their price target on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the stock an “underperform” rating in a report on Wednesday, August 13th. UBS Group lifted their price target on shares of ON from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $62.00 price target on shares of ON in a report on Tuesday, August 12th. One investment 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 given a Sell rating to the company’s stock. According to 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

Shares of NYSE ONON opened at $41.93 on Monday. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a fifty day simple moving average of $44.61 and a 200 day simple moving average of $48.72. The company has a market capitalization of $26.40 billion, a PE ratio of 93.18, a P/E/G ratio of 5.20 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.

ON 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.