XTX Topco Ltd Buys 13,676 Shares of On Holding AG (NYSE:ONON)

Key Points

• XTX Topco Ltd significantly increased its stake in On Holding AG by 126.4% during Q1, owning 24,493 shares valued at approximately $1,076,000 at the end of the period.
• Other institutional investors, including Banque Cantonale Vaudoise and Federated Hermes Inc., have also made notable changes to their positions in ONON, with a total of 36.39% of the stock currently held by hedge funds and institutional investors.
• Analysts maintain an overall positive outlook on ONON, with two hold ratings, nineteen buy ratings, and an average target price of $64.00.

XTX Topco Ltd grew its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 126.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,493 shares of the company's stock after buying an additional 13,676 shares during the period. XTX Topco Ltd's holdings in ON were worth $1,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in shares of ON in the 4th quarter valued at $32,000. TCTC Holdings LLC increased its position in ON by 118.4% during the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after purchasing an additional 315 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of ON in the 1st quarter worth approximately $26,000. MassMutual Private Wealth & Trust FSB acquired a new stake in ON during the 1st quarter valued at $32,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of ON during the 4th quarter worth $44,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 1.1%

Shares of ONON stock traded down $0.50 during trading hours on Tuesday, reaching $47.10. The company had a trading volume of 4,466,668 shares, compared to its average volume of 4,937,911. The firm has a market cap of $29.66 billion, a price-to-earnings ratio of 67.29, a P/E/G ratio of 2.71 and a beta of 2.24. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18. The company has a 50 day moving average of $53.37 and a 200 day moving average of $51.34.

Analysts Set New Price Targets

Several brokerages recently issued reports on ONON. UBS Group set a $75.00 price target on ON in a report on Wednesday, May 14th. Evercore ISI raised their target price on ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Citigroup upgraded ON from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $65.00 to $60.00 in a research note on Monday, April 28th. Raymond James Financial cut shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price on the stock. in a report on Tuesday, July 22nd. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $65.00 target price on shares of ON in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.00.

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