Assetmark Inc. Raises Stock Position in On Holding AG (NYSE:ONON)

Assetmark Inc. raised its stake in shares of On Holding AG (NYSE:ONON) by 68.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,395 shares of the company’s stock after purchasing an additional 2,195 shares during the quarter. Assetmark Inc.’s holdings in ON were worth $295,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA purchased a new position in ON during the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of ON during the 3rd quarter valued at $29,000. Strategic Financial Concepts LLC bought a new stake in shares of ON during the 4th quarter valued at $30,000. Legacy Bridge LLC bought a new stake in shares of ON during the 4th quarter valued at $43,000. Finally, Arcadia Investment Management Corp MI bought a new stake in shares of ON during the 4th quarter valued at $53,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ONON opened at $46.42 on Friday. On Holding AG has a 1 year low of $29.84 and a 1 year high of $64.05. The company has a 50 day simple moving average of $54.32 and a two-hundred day simple moving average of $52.62. The firm has a market cap of $29.23 billion, a P/E ratio of 107.94, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ONON shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price target on shares of ON in a research note on Tuesday, March 4th. UBS Group upped their price target on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $58.00 to $63.00 in a research note on Thursday, November 21st. Barclays upped their target price on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley upped their target price on shares of ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.90.

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.