Arrowstreet Capital Limited Partnership Takes Position in On Holding AG (NYSE:ONON)

Arrowstreet Capital Limited Partnership acquired a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,438,726 shares of the company’s stock, valued at approximately $78,799,000. Arrowstreet Capital Limited Partnership owned approximately 0.23% of ON at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ONON. Strategic Financial Concepts LLC bought a new stake in ON in the fourth quarter worth approximately $30,000. Legacy Bridge LLC bought a new stake in ON in the fourth quarter worth $43,000. Arcadia Investment Management Corp MI acquired a new position in ON during the fourth quarter worth $53,000. VisionPoint Advisory Group LLC acquired a new position in ON during the fourth quarter worth $65,000. Finally, Blue Trust Inc. raised its holdings in ON by 148.8% during the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock valued at $66,000 after buying an additional 787 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Down 0.5 %

Shares of NYSE ONON opened at $43.92 on Tuesday. The business’s 50 day moving average price is $51.85 and its two-hundred day moving average price is $52.68. The company has a market cap of $27.66 billion, a PE ratio of 102.15, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ONON shares. Needham & Company LLC reissued a “buy” rating and set a $64.00 price objective on shares of ON in a report on Tuesday, March 4th. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Wednesday, February 12th. Williams Trading increased their price objective on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their target price on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 price target on shares of ON in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.90.

ON Company 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.