On Holding AG $ONON Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of On Holding AG (NYSE:ONON) by 34.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 680,646 shares of the company’s stock after buying an additional 175,255 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in ON were worth $28,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Winslow Capital Management LLC purchased a new stake in ON in the 2nd quarter worth approximately $248,113,000. Sands Capital Management LLC acquired a new stake in shares of ON during the second quarter worth $240,177,000. Norges Bank purchased a new stake in shares of ON in the second quarter valued at $138,641,000. Ameriprise Financial Inc. increased its stake in ON by 4,564.3% in the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after purchasing an additional 2,242,480 shares during the last quarter. Finally, State Street Corp lifted its position in ON by 765.4% during the second quarter. State Street Corp now owns 2,219,015 shares of the company’s stock worth $115,500,000 after buying an additional 1,962,586 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed an “underperform” rating and set a $31.00 price objective on shares of ON in a research note on Wednesday, November 12th. Singular Research raised shares of ON to a “strong-buy” rating in a research note on Monday, November 17th. Citigroup cut shares of ON from a “buy” rating to a “mixed” rating in a research note on Tuesday, October 28th. Bank of America upped their price objective on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Williams Trading cut ON from a “buy” rating to a “hold” rating and reduced their target price for the company from $55.00 to $47.00 in a report on Thursday, January 8th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average price target of $60.59.

ON Stock Performance

NYSE:ONON opened at $44.15 on Wednesday. The firm’s fifty day simple moving average is $46.03 and its 200 day simple moving average is $45.35. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. On Holding AG has a twelve month low of $34.38 and a twelve month high of $64.05. The firm has a market capitalization of $27.72 billion, a price-to-earnings ratio of 57.33, a PEG ratio of 1.35 and a beta of 2.15.

About ON

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.