Wesbanco Bank Inc. Sells 34,400 Shares of On Holding AG (NYSE:ONON)

Wesbanco Bank Inc. cut its stake in On Holding AG (NYSE:ONON) by 33.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 68,882 shares of the company’s stock after selling 34,400 shares during the period. Wesbanco Bank Inc.’s holdings in ON were worth $3,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ONON. Cerity Partners LLC grew its stake in shares of ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after acquiring an additional 471,323 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after acquiring an additional 459,157 shares during the period. Fred Alger Management LLC grew its stake in shares of ON by 22.8% in the second quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock worth $44,734,000 after acquiring an additional 213,815 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of ON in the third quarter worth approximately $10,263,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ON in the third quarter worth approximately $8,425,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of ONON opened at $58.61 on Thursday. The company’s fifty day moving average is $56.37 and its 200 day moving average is $49.28. On Holding AG has a fifty-two week low of $26.03 and a fifty-two week high of $60.67. The stock has a market capitalization of $36.90 billion, a PE ratio of 136.30, a P/E/G ratio of 1.23 and a beta of 2.30.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ONON shares. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price objective on shares of ON in a report on Wednesday, January 15th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. 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. Stifel Nicolaus lifted their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen lifted their price target on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average price target of $59.36.

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.