KADENSA CAPITAL Ltd Has $10.58 Million Position in On Holding AG $ONON

Key Points

• KADENSA CAPITAL Ltd increased its stake in On Holding AG by 313.2% in the first quarter, owning a total of 240,799 shares valued at approximately $10.6 million.
• Several hedge funds, including Bison Wealth LLC and BNP Paribas Financial Markets, have also raised their stakes in On Holding AG recently, indicating growing institutional interest.
• Analysts have upgraded their price targets for ONON stock, with a consensus price target now at $64.20 and a rating of "Moderate Buy" from the market analysts.

KADENSA CAPITAL Ltd raised its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 313.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,799 shares of the company's stock after purchasing an additional 182,528 shares during the period. KADENSA CAPITAL Ltd's holdings in ON were worth $10,576,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ONON. Montag A & Associates Inc. acquired a new stake in ON in the first quarter worth about $26,000. TCTC Holdings LLC lifted its holdings in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock valued at $26,000 after acquiring an additional 315 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in ON in the 4th quarter valued at about $32,000. MassMutual Private Wealth & Trust FSB acquired a new stake in ON in the 1st quarter valued at about $32,000. Finally, Smartleaf Asset Management LLC lifted its holdings in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock valued at $42,000 after acquiring an additional 916 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ONON. Morgan Stanley boosted their price objective on ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Stifel Nicolaus upped their target price on ON from $57.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Truist Financial upped their target price on ON from $61.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. UBS Group increased their price objective on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, Robert W. Baird increased their price objective on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ON currently has an average rating of "Moderate Buy" and an average target price of $64.20.

ON Stock Performance

ON stock traded down $0.53 during trading hours on Friday, reaching $45.52. 5,229,940 shares of the company were exchanged, compared to its average volume of 6,989,252. On Holding AG has a 12 month low of $34.59 and a 12 month high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The firm has a market cap of $28.66 billion, a price-to-earnings ratio of 101.16, a PEG ratio of 5.88 and a beta of 2.23. The stock has a 50-day moving average of $48.99 and a 200 day moving average of $49.43.

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.