Arnhold LLC Decreases Stock Holdings in On Holding AG (NYSE:ONON)

Arnhold LLC cut its stake in On Holding AG (NYSE:ONON) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 359,000 shares of the company’s stock after selling 17,500 shares during the period. ON makes up approximately 1.9% of Arnhold LLC’s holdings, making the stock its 18th largest holding. Arnhold LLC’s holdings in ON were worth $19,662,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in ON during the 4th quarter valued at about $30,000. Legacy Bridge LLC purchased a new position in shares of ON during the 4th quarter worth approximately $43,000. Bernard Wealth Management Corp. acquired a new position in shares of ON during the 4th quarter worth approximately $44,000. Arcadia Investment Management Corp MI purchased a new stake in ON in the 4th quarter valued at approximately $53,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in ON during the 4th quarter valued at $65,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Trading Up 1.9 %

NYSE ONON opened at $44.75 on Friday. The company’s fifty day simple moving average is $45.68 and its 200-day simple moving average is $51.56. The stock has a market cap of $28.18 billion, a P/E ratio of 104.07, a PEG ratio of 1.02 and a beta of 2.32. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05.

Wall Street Analyst Weigh In

ONON has been the subject of a number of analyst reports. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a report on Wednesday, February 12th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, March 11th. Williams Trading boosted their price objective on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Bank of America assumed coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. Finally, Morgan Stanley boosted their price target on ON from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ON has an average rating of “Moderate Buy” and a consensus price target of $60.00.

About ON

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.