Victory Capital Management Inc. Sells 203,611 Shares of On Holding AG (NYSE:ONON)

Victory Capital Management Inc. trimmed its holdings in shares of On Holding AG (NYSE:ONON) by 21.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 763,107 shares of the company’s stock after selling 203,611 shares during the period. Victory Capital Management Inc. owned about 0.12% of ON worth $38,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONON. Blair William & Co. IL bought a new position in ON during the first quarter valued at $502,000. Acadian Asset Management LLC purchased a new position in shares of ON during the 1st quarter valued at $8,094,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the period. Forte Capital LLC ADV purchased a new stake in ON in the 3rd quarter worth about $742,000. Finally, Coronation Fund Managers Ltd. raised its stake in ON by 248.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company’s stock valued at $6,010,000 after acquiring an additional 110,467 shares during the period. 33.11% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 2.7 %

ONON opened at $51.92 on Friday. The stock has a market capitalization of $32.69 billion, a P/E ratio of 120.74 and a beta of 2.25. The stock has a 50-day moving average price of $49.56 and a 200-day moving average price of $43.25. On Holding AG has a 12-month low of $25.78 and a 12-month high of $56.44.

Wall Street Analyst Weigh In

ONON has been the subject of several recent research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 target price on shares of ON in a research note on Tuesday, November 12th. Piper Sandler boosted their target price on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Evercore ISI raised ON to an “overweight” rating and raised their price target for the stock from $43.00 to $47.00 in a report on Monday, August 12th. Robert W. Baird lifted their price target on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

ON Company Profile

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.