Victory Capital Management Inc. Cuts Stock Holdings in On Holding AG (NYSE:ONON)

Victory Capital Management Inc. lowered its stake in On Holding AG (NYSE:ONON) by 21.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 763,107 shares of the company’s stock after selling 203,611 shares during the period. Victory Capital Management Inc.’s holdings in ON were worth $38,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP increased its stake in shares of ON by 552.9% in the third quarter. Aigen Investment Management LP now owns 103,741 shares of the company’s stock worth $5,203,000 after buying an additional 87,852 shares during the period. Prime Capital Investment Advisors LLC increased its position in shares of ON by 8.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 8,175 shares of the company’s stock valued at $410,000 after acquiring an additional 650 shares during the period. Rakuten Securities Inc. raised its stake in shares of ON by 119.7% during the third quarter. Rakuten Securities Inc. now owns 1,426 shares of the company’s stock valued at $72,000 after acquiring an additional 777 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of ON by 19.9% during the third quarter. GSA Capital Partners LLP now owns 36,351 shares of the company’s stock worth $1,823,000 after purchasing an additional 6,043 shares during the period. Finally, Apollon Wealth Management LLC bought a new stake in shares of ON in the third quarter worth about $461,000. Institutional investors own 33.11% of the company’s stock.

ON Stock Down 2.7 %

Shares of ONON opened at $51.92 on Friday. The firm has a 50 day moving average of $49.56 and a 200 day moving average of $43.25. On Holding AG has a twelve month low of $25.78 and a twelve month high of $56.44. The company has a market capitalization of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ONON shares. Piper Sandler increased their price objective on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Barclays boosted their price objective on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday. Raymond James assumed coverage on shares of ON in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 target price for the company. TD Cowen boosted their price target on shares of ON from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HSBC initiated coverage on shares of ON in a report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price objective for the company. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average target price of $54.33.

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.