On Holding AG $ONON Shares Purchased by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. has increased its stake in On Holding AG by 43.3%, now holding approximately $1.18 million worth of shares following the acquisition of 8,155 additional shares.
• Institutional investors now own 36.39% of On Holding AG's stock, with various large investors significantly increasing their positions during the recent quarter.
• Equities analysts have a consensus "Moderate Buy" rating on On Holding AG, with target price estimates ranging from $60.00 to $70.00, indicating strong investor confidence in the company's future performance.

Fox Run Management L.L.C. boosted its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 43.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,968 shares of the company's stock after acquiring an additional 8,155 shares during the quarter. Fox Run Management L.L.C.'s holdings in ON were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in shares of ON by 136.6% during the first quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock worth $212,943,000 after purchasing an additional 2,798,794 shares during the period. Nuveen LLC acquired a new position in ON in the 1st quarter valued at $102,850,000. BNP Paribas Financial Markets purchased a new position in ON during the 4th quarter worth $39,119,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of ON by 355.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 910,000 shares of the company's stock worth $39,967,000 after acquiring an additional 710,000 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of ON in the 4th quarter worth $28,575,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ONON traded up $0.1780 on Wednesday, reaching $45.2080. The stock had a trading volume of 4,566,296 shares, compared to its average volume of 8,318,713. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a market capitalization of $28.47 billion, a PE ratio of 100.46, a PEG ratio of 2.47 and a beta of 2.24. The firm has a 50-day moving average of $50.75 and a 200 day moving average of $50.30. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Telsey Advisory Group reiterated an "outperform" rating and set a $65.00 price target on shares of ON in a research note on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Evercore ISI boosted their target price on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. KeyCorp raised their price target on ON from $60.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley lifted their price target on ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.20.

About ON

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