Counterpoint Mutual Funds LLC Makes New $271,000 Investment in On Holding AG (NYSE:ONON)

Counterpoint Mutual Funds LLC bought a new position in On Holding AG (NYSE:ONON) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,941 shares of the company’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ONON. Raymond James Financial Inc. purchased a new stake in ON in the fourth quarter worth approximately $28,575,000. Cerity Partners LLC boosted its stake in ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after buying an additional 471,323 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after purchasing an additional 459,157 shares during the last quarter. Jennison Associates LLC lifted its position in ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after purchasing an additional 440,685 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after purchasing an additional 349,789 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ONON shares. Bank of America started coverage on ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective for the company. Barclays boosted their price objective on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of ON in a research report on Tuesday, March 4th. Citigroup started coverage on ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price objective on shares of ON in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $61.90.

ON Stock Down 3.9 %

Shares of ONON stock opened at $46.18 on Wednesday. The stock has a market cap of $29.08 billion, a price-to-earnings ratio of 107.40, a PEG ratio of 1.02 and a beta of 2.35. The business’s fifty day moving average is $53.63 and its 200 day moving average is $52.66. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.