Concurrent Investment Advisors LLC Grows Stake in On Holding AG (NYSE:ONON)

Concurrent Investment Advisors LLC raised its stake in On Holding AG (NYSE:ONON) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 9,413 shares of the company’s stock after buying an additional 259 shares during the period. Concurrent Investment Advisors LLC’s holdings in ON were worth $516,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ONON. Private Trust Co. NA purchased a new stake in shares of ON in the third quarter worth $26,000. Blue Trust Inc. boosted its position in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON during the third quarter valued at $29,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of ON during the fourth quarter valued at $30,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Up 0.5 %

NYSE:ONON opened at $48.70 on Tuesday. On Holding AG has a 12-month low of $27.37 and a 12-month high of $64.05. The stock has a 50-day moving average price of $56.18 and a 200 day moving average price of $52.18. The stock has a market capitalization of $30.67 billion, a P/E ratio of 113.26, a P/E/G ratio of 1.02 and a beta of 2.30.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup assumed coverage on ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Barclays increased their target price on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. UBS Group reissued a “buy” rating and issued a $63.00 target price on shares of ON in a report on Friday, December 27th. Truist Financial increased their target price on ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group downgraded ON from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a report on Wednesday, February 12th. Five 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 stock currently has an average rating of “Moderate Buy” and an average price target of $59.73.

About ON

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.