Mpwm Advisory Solutions LLC Takes $358,000 Position in On Holding AG (NYSE:ONON)

Mpwm Advisory Solutions LLC purchased a new stake in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,536 shares of the company's stock, valued at approximately $358,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Voloridge Investment Management LLC increased its position in ON by 10.7% in the fourth quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock worth $111,013,000 after purchasing an additional 196,270 shares during the period. Woodline Partners LP boosted its stake in shares of ON by 3.9% in the 4th quarter. Woodline Partners LP now owns 515,419 shares of the company's stock valued at $28,229,000 after purchasing an additional 19,124 shares during the last quarter. Tremblant Capital Group bought a new position in shares of ON in the 4th quarter valued at about $15,148,000. Two Sigma Advisers LP acquired a new stake in shares of ON during the 4th quarter worth approximately $2,843,000. Finally, Two Sigma Investments LP raised its stake in shares of ON by 265.7% during the fourth quarter. Two Sigma Investments LP now owns 245,498 shares of the company's stock worth $13,446,000 after buying an additional 178,362 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Price Performance

ONON stock traded down $0.38 during midday trading on Friday, hitting $58.44. The company's stock had a trading volume of 4,394,621 shares, compared to its average volume of 4,621,257. The stock has a market capitalization of $36.80 billion, a P/E ratio of 135.91, a PEG ratio of 1.02 and a beta of 2.30. The company's fifty day moving average price is $47.40 and its 200 day moving average price is $52.13. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05.

Analyst Ratings Changes

ONON has been the subject of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a report on Tuesday, May 13th. UBS Group set a $75.00 price objective on ON in a research note on Wednesday, May 14th. Citigroup upgraded ON from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $65.00 to $60.00 in a report on Monday, April 28th. Barclays set a $68.00 target price on ON in a research report on Wednesday, May 14th. Finally, Williams Trading increased their target price on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $62.45.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.