Freedom Investment Management Inc. Decreases Stock Position in On Holding AG (NYSE:ONON)

Freedom Investment Management Inc. trimmed its position in shares of On Holding AG (NYSE:ONON) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,082 shares of the company’s stock after selling 1,916 shares during the period. Freedom Investment Management Inc.’s holdings in ON were worth $606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC boosted its stake in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company’s stock valued at $924,000 after buying an additional 300 shares during the last quarter. Capital Advisors Inc. OK boosted its stake in ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after acquiring an additional 301 shares during the last quarter. Artemis Investment Management LLP grew its holdings in ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock worth $637,000 after acquiring an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company’s stock worth $404,000 after purchasing an additional 325 shares during the last quarter. Finally, Asset Dedication LLC raised its stake in shares of ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Trading Up 0.8 %

ON stock opened at $58.34 on Friday. On Holding AG has a 52 week low of $25.78 and a 52 week high of $59.19. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 135.68 and a beta of 2.25. The company’s 50-day moving average price is $51.16 and its two-hundred day moving average price is $44.85.

Wall Street Analyst Weigh In

A number of research firms recently commented on ONON. The Goldman Sachs Group lifted their price target on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI raised ON to an “overweight” rating and upped their price target for the company from $43.00 to $47.00 in a research report on Monday, August 12th. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Telsey Advisory Group reiterated an “outperform” rating and set a $53.00 target price on shares of ON in a research note on Tuesday, November 12th. Finally, KeyCorp lifted their price target on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and an average price target of $56.05.

About ON

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.