U S Global Investors Inc. Boosts Stake in On Holding AG (NYSE:ONON)

U S Global Investors Inc. raised its stake in shares of On Holding AG (NYSE:ONON) by 218.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,450 shares of the company’s stock after buying an additional 5,800 shares during the quarter. U S Global Investors Inc.’s holdings in ON were worth $463,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its position in ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after acquiring an additional 6,808 shares during the last quarter. RB Capital Management LLC lifted its holdings in shares of ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after acquiring an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after purchasing an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in ON during the fourth quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of ON by 584.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after purchasing an additional 71,436 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ONON. Truist Financial raised their target price on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research note on Wednesday, February 12th. UBS Group reiterated a “buy” rating and issued a $63.00 target price on shares of ON in a research note on Friday, December 27th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of ON in a report on Wednesday, January 15th. Finally, Barclays increased their target price on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.73.

ON Stock Performance

Shares of ONON stock opened at $46.69 on Friday. On Holding AG has a 1 year low of $27.37 and a 1 year high of $64.05. The firm has a market capitalization of $29.40 billion, a PE ratio of 108.57, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The stock has a fifty day moving average of $55.92 and a two-hundred day moving average of $52.23.

ON 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.