Cambridge Investment Research Advisors Inc. Acquires 8,491 Shares of On Holding AG (NYSE:ONON)

Cambridge Investment Research Advisors Inc. raised its holdings in shares of On Holding AG (NYSE:ONON) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,247 shares of the company’s stock after acquiring an additional 8,491 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in ON were worth $1,717,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Rheos Capital Works Inc. acquired a new position in ON during the first quarter valued at approximately $10,614,000. Blair William & Co. IL bought a new stake in shares of ON in the 1st quarter valued at $502,000. Janney Montgomery Scott LLC raised its stake in ON by 1,011.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 104,185 shares of the company’s stock worth $3,686,000 after buying an additional 94,814 shares during the period. Acadian Asset Management LLC bought a new position in ON during the first quarter worth about $8,094,000. Finally, Wellington Management Group LLP acquired a new position in ON in the fourth quarter valued at about $34,420,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Trading Down 1.9 %

NYSE ONON opened at $46.08 on Wednesday. The firm has a market capitalization of $29.01 billion, a P/E ratio of 104.73, a price-to-earnings-growth ratio of 1.30 and a beta of 2.22. The firm’s fifty day moving average price is $40.47 and its two-hundred day moving average price is $37.30. On Holding AG has a 1 year low of $23.41 and a 1 year high of $48.08.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on ON from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. TD Cowen upped their price target on shares of ON from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Needham & Company LLC raised their price objective on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $52.00 target price on shares of ON in a research note on Friday, August 23rd. Finally, Truist Financial lifted their price target on ON from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, ON has an average rating of “Moderate Buy” and an average target price of $45.83.

About ON

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.