Mirae Asset Expands Stake in On Holding AG with $152,000 Purchase

Mirae Asset Global Investments Co. Ltd. has acquired a new stake in On Holding AG (NYSE:ONON) during the second quarter of 2023. The investment firm purchased 2,915 shares of the company’s stock, valued at approximately $152,000, according to its recent disclosure with the Securities and Exchange Commission (SEC). This move reflects a growing interest in On Holding, a company renowned for its innovative sports products.

Several other institutional investors have also adjusted their holdings in On Holding, indicating a broader trend of investment in the company. For instance, CWM LLC increased its stake by 22.2% in the first quarter, now holding 1,259 shares valued at $55,000. Similarly, TCTC Holdings LLC significantly boosted its investment by 118.4%, acquiring an additional 315 shares to reach a total of 581 shares worth $26,000.

Wesbanco Bank Inc. and Sage Capital Advisors LLC have also made notable adjustments to their positions. Wesbanco increased its holdings by 0.6%, now owning 69,303 shares, valued at $3,607,000. Sage Capital Advisors added 483 shares to its portfolio, bringing its total to 100,812 shares, valued at $5,247,000. Artemis Investment Management LLP has also boosted its position in On Holding by 4.2%, now holding 12,715 shares worth $558,000. Currently, institutional investors own 36.39% of On Holding’s stock.

Analysts’ Insights on On Holding Shares

A number of analysts have provided their assessments of On Holding shares, reflecting varying outlooks. Barclays recently raised its target price from $68.00 to $69.00, maintaining an “overweight” rating. Needham & Company reaffirmed a “buy” rating with a target price of $62.00. Telsey Advisory Group also upheld an “outperform” rating, setting a target price of $65.00.

Conversely, Raymond James Financial downgraded its rating from “strong-buy” to “outperform,” adjusting its price target to $66.00. Morgan Stanley increased its price target from $62.00 to $65.00, continuing to rate the stock as “overweight.” Overall, one analyst rates the stock as a Strong Buy, while nineteen have given it a Buy rating, one has assigned a Hold rating, and two have suggested a Sell rating. According to MarketBeat.com, On Holding currently holds an average rating of “Moderate Buy” with an average price target of $64.20.

Current Performance and Market Overview

On Friday, shares of On Holding opened at $41.93. The company has a market capitalization of $26.40 billion, a P/E ratio of 93.18, and a PEG ratio of 5.20. Its stock has experienced fluctuations, with a 50-day simple moving average of $44.61 and a 200-day simple moving average of $48.70. The company’s debt-to-equity ratio stands at 0.31, with a quick ratio of 2.00 and a current ratio of 2.53. Over the past year, On Holding has seen a low of $34.59 and a high of $64.05.

On Holding AG specializes in the development and distribution of high-performance sports products, including footwear, apparel, and accessories tailored for running, outdoor activities, and tennis. The company markets its products globally through independent retailers, global distributors, and its own online and physical stores.

For those interested in the latest developments, further information about hedge fund holdings in On Holding can be found through financial platforms that track 13F filings and insider trades.