On Holding AG (NYSE:ONON) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lessened its holdings in On Holding AG (NYSE:ONON) by 15.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 715,479 shares of the company’s stock after selling 130,837 shares during the period. ON accounts for approximately 1.9% of Hodges Capital Management Inc.’s holdings, making the stock its 10th largest holding. Hodges Capital Management Inc.’s holdings in ON were worth $27,761,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. VisionPoint Advisory Group LLC acquired a new position in ON in the fourth quarter valued at about $32,000. Spire Wealth Management boosted its position in shares of ON by 66.2% during the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after buying an additional 643 shares during the period. WD Rutherford LLC purchased a new stake in shares of ON in the 1st quarter valued at $52,000. Principal Securities Inc. acquired a new position in ON during the 4th quarter worth about $88,000. Finally, Orion Capital Management LLC boosted its holdings in ON by 106.7% during the 1st quarter. Orion Capital Management LLC now owns 2,480 shares of the company’s stock valued at $88,000 after acquiring an additional 1,280 shares during the period. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Down 4.0 %

ONON traded down $1.84 on Wednesday, reaching $44.23. The company had a trading volume of 1,693,962 shares, compared to its average volume of 5,265,817. On Holding AG has a 1 year low of $23.41 and a 1 year high of $48.08. The stock has a market capitalization of $27.85 billion, a PE ratio of 104.73, a P/E/G ratio of 1.30 and a beta of 2.22. The stock has a 50-day moving average price of $40.47 and a 200-day moving average price of $37.30.

Wall Street Analyst Weigh In

ONON has been the subject of several recent research reports. Evercore ISI raised shares of ON to an “overweight” rating and raised their price objective for the company from $43.00 to $47.00 in a research note on Monday, August 12th. TD Cowen lifted their target price on ON from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Barclays increased their price target on ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Telsey Advisory Group reissued an “outperform” rating and set a $47.00 price objective on shares of ON in a research report on Tuesday, August 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $52.00 target price on shares of ON in a report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.83.

About ON

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.