This afternoon we watched On rise 2.8% to a price of $33.48 per share. The Large-Cap Footwear & Accessories company is now trading -8.51% below its average target price of $36.6. Analysts have set target prices ranging from $20.95 to $53.0 per share for On, and have given the stock an average rating of buy.
On has an elevated short interest of 13.4%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 4.27. The company's insiders own 25.87% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. 58.1% of On shares are held by institutional investors, which indicates a high level of confidence in the stock.
Institutions Invested in On
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | FMR, LLC | 10% | 28,358,626 | $949,588,608 |
| 2023-12-31 | Morgan Stanley | 6% | 17,763,007 | $594,794,300 |
| 2023-12-31 | American Century Companies Inc | 4% | 10,163,158 | $340,313,351 |
| 2023-12-31 | Select Equity Group, Inc. | 3% | 9,111,805 | $305,108,795 |
| 2023-12-31 | Macquarie Group Limited | 2% | 5,426,008 | $181,689,881 |
| 2023-12-31 | Blackrock Inc. | 2% | 5,175,464 | $173,300,415 |
| 2023-12-31 | Anomaly Capital Management, LP | 2% | 4,493,122 | $150,452,192 |
| 2023-12-31 | Nuveen Asset Management, LLC | 1% | 4,033,481 | $135,061,113 |
| 2023-12-31 | Marshall Wace LLP | 1% | 3,577,635 | $119,797,110 |
| 2023-12-31 | BAMCO Inc. | 1% | 3,524,993 | $118,034,392 |
For these reasons, we consider that the On is the subject of mixed market sentiment.
