Orion Porfolio Solutions LLC Buys 14,572 Shares of On Holding AG $ONON

Orion Porfolio Solutions LLC increased its position in On Holding AG (NYSE:ONON) by 47.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,288 shares of the company’s stock after buying an additional 14,572 shares during the period. Orion Porfolio Solutions LLC’s holdings in ON were worth $2,357,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of ON by 106.6% during the second quarter. Public Employees Retirement System of Ohio now owns 68,583 shares of the company’s stock worth $3,570,000 after purchasing an additional 35,391 shares during the period. Red Spruce Capital LLC grew its position in ON by 64.8% in the 2nd quarter. Red Spruce Capital LLC now owns 35,566 shares of the company’s stock valued at $1,851,000 after purchasing an additional 13,980 shares during the period. Norges Bank bought a new stake in ON during the 2nd quarter valued at $138,641,000. Bessemer Group Inc. acquired a new position in ON during the second quarter worth $43,344,000. Finally, Allianz Asset Management GmbH acquired a new position in ON during the second quarter worth $3,321,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup cut shares of ON from a “buy” rating to a “mixed” rating in a report on Tuesday, October 28th. UBS Group boosted their price objective on ON from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Telsey Advisory Group restated an “outperform” rating and issued a $65.00 target price on shares of ON in a report on Thursday, November 13th. Needham & Company LLC cut their target price on ON from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and an average price target of $61.27.

ON Price Performance

Shares of NYSE ONON opened at $48.48 on Friday. The company has a market capitalization of $30.45 billion, a PE ratio of 62.97, a PEG ratio of 2.87 and a beta of 2.16. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $42.64 and its 200-day moving average price is $46.52. On Holding AG has a twelve month low of $34.38 and a twelve month high of $64.05.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.