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

by · The Cerbat Gem

Orion Porfolio Solutions LLC grew its stake in shares of On Holding AG (NYSE:ONON – Free Report) by 47.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,288 shares of the company’s stock after acquiring 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.

Several other large investors also recently modified their holdings of ONON. Washington Trust Advisors Inc. purchased a new position in ON in the second quarter valued at approximately $29,000. Smartleaf Asset Management LLC raised its stake in shares of ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after buying an additional 916 shares during the period. Quarry LP purchased a new position in shares of ON during the 1st quarter valued at $60,000. Ramirez Asset Management Inc. grew its stake in shares of ON by 20.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock worth $62,000 after acquiring an additional 200 shares during the period. Finally, WD Rutherford LLC purchased a new stake in ON in the 2nd quarter worth about $73,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

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

Analyst Ratings Changes

A number of brokerages have weighed in on ONON. Morgan Stanley increased their target price on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Piper Sandler restated an “overweight” rating on shares of ON in a research note on Friday, December 5th. JPMorgan Chase & Co. raised their price objective on shares of ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. BTIG Research reissued a “buy” rating and set a $70.00 target price on shares of ON in a report on Tuesday, November 4th. Finally, Citigroup downgraded ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, ON presently has an average rating of “Moderate Buy” and a consensus price target of $61.27.

Check Out Our Latest Stock Report on ONON

ON Company Profile

(Free Report)

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.

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