B. Riley Wealth Advisors Inc. Sells 858 Shares of On Holding AG (NYSE:ONON)

B. Riley Wealth Advisors Inc. trimmed its position in shares of On Holding AG (NYSE:ONON) by 10.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,379 shares of the company’s stock after selling 858 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in ON were worth $369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ONON. 1832 Asset Management L.P. raised its holdings in shares of ON by 66,838.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after buying an additional 2,406,200 shares in the last quarter. Acadian Asset Management LLC raised its stake in ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after acquiring an additional 1,315,006 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of ON by 100.7% in the second 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 last quarter. Fred Alger Management LLC boosted its stake in shares of ON by 22.8% in the 2nd quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock valued at $44,734,000 after purchasing an additional 213,815 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of ON during the 2nd quarter valued at approximately $43,456,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONON has been the subject of several research reports. Citigroup assumed coverage on shares of ON in a research note on Wednesday. They issued a “neutral” rating and a $65.00 price objective for the company. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and increased their price target for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. HSBC initiated coverage on ON in a research report on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price for the company. Finally, Barclays boosted their price target on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.77.

ON Trading Up 3.6 %

Shares of ON stock opened at $57.14 on Friday. The company has a market cap of $35.98 billion, a P/E ratio of 132.89 and a beta of 2.30. The business has a 50-day moving average price of $53.20 and a two-hundred day moving average price of $46.71. On Holding AG has a 1-year low of $25.78 and a 1-year high of $60.12.

ON 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.