Apollon Wealth Management LLC Increases Stock Position in On Holding AG (NYSE:ONON)

Apollon Wealth Management LLC increased its position in On Holding AG (NYSE:ONON) by 74.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,005 shares of the company’s stock after acquiring an additional 6,808 shares during the period. Apollon Wealth Management LLC’s holdings in ON were worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ONON. Truist Financial Corp purchased a new position in ON in the 2nd quarter worth approximately $463,000. ORG Wealth Partners LLC purchased a new stake in ON during the 3rd quarter valued at $100,000. Wesbanco Bank Inc. purchased a new stake in ON during the 3rd quarter valued at $5,180,000. Creative Planning raised its stake in ON by 6.6% during the 3rd quarter. Creative Planning now owns 18,779 shares of the company’s stock valued at $942,000 after buying an additional 1,160 shares during the last quarter. Finally, Sentry LLC purchased a new stake in ON during the 3rd quarter valued at $251,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ONON shares. Bank of America started coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price for the company. Barclays boosted their target price on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their price objective on shares of ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price objective on shares of ON in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus boosted their price objective on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Trading Down 2.9 %

NYSE ONON opened at $54.08 on Wednesday. The company has a fifty day simple moving average of $57.25 and a two-hundred day simple moving average of $51.38. The stock has a market cap of $34.05 billion, a P/E ratio of 125.78, a P/E/G ratio of 1.20 and a beta of 2.30. On Holding AG has a 12-month low of $27.37 and a 12-month high of $64.05.

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.