Merit Financial Group LLC Takes $653,000 Position in On Holding AG (NYSE:ONON)

Merit Financial Group LLC bought a new position in shares of On Holding AG (NYSE:ONON) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,927 shares of the company’s stock, valued at approximately $653,000.

A number of other large investors have also recently made changes to their positions in the company. RB Capital Management LLC increased its position in shares of ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after purchasing an additional 15,303 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after buying an additional 71,436 shares during the last quarter. Forte Capital LLC ADV purchased a new position in ON in the third quarter valued at $742,000. Coronation Fund Managers Ltd. raised its stake in ON by 248.6% in the second quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after buying an additional 110,467 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of ON during the 3rd quarter worth about $658,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Performance

ON stock opened at $58.61 on Thursday. On Holding AG has a one year low of $26.03 and a one year high of $60.67. The company has a market cap of $36.90 billion, a P/E ratio of 136.30, a price-to-earnings-growth ratio of 1.19 and a beta of 2.30. The business has a fifty day moving average of $56.37 and a two-hundred day moving average of $49.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Williams Trading raised ON from a “hold” rating to a “buy” rating and raised their target price for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price objective on shares of ON in a report on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of ON in a research report on Wednesday, January 15th. Piper Sandler boosted their price target on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, Bank of America initiated coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.36.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.