PDT Partners LLC Invests $1.12 Million in On Holding AG (NYSE:ONON)

PDT Partners LLC purchased a new stake in shares of On Holding AG (NYSE:ONON) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 22,324 shares of the company’s stock, valued at approximately $1,120,000.

Several other hedge funds have also recently bought and sold shares of ONON. Private Trust Co. NA acquired a new position in shares of ON in the 3rd quarter valued at about $26,000. Blue Trust Inc. grew its position in 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 purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in ON by 210.5% in the 3rd 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 period. MidAtlantic Capital Management Inc. purchased a new stake in ON in the 3rd quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in shares of ON during the 2nd quarter valued at $32,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. KeyCorp lifted their price target on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. TD Cowen increased their price objective on ON from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays lifted their target price on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, UBS Group raised their price target on shares of ON from $61.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.05.

ON Price Performance

NYSE ONON opened at $58.33 on Monday. The company’s fifty day moving average is $51.16 and its two-hundred day moving average is $44.97. On Holding AG has a 52-week low of $25.78 and a 52-week high of $59.19. The firm has a market capitalization of $36.73 billion, a price-to-earnings ratio of 135.65 and a beta of 2.25.

About ON

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.