Quantbot Technologies LP Has $20.82 Million Stock Holdings in On Holding AG $ONON

Key Points

• Quantbot Technologies LP increased its stake in On Holding AG by 63.3%, owning 474,008 shares valued at approximately $20.8 million following the purchase of 183,707 shares.
• The stock currently has a market capitalization of $28.55 billion with a P/E ratio of 100.78 and has seen a trading range between $34.59 and $64.05 over the last year.
• Analyst ratings for ON Holding AG are overwhelmingly positive, with a consensus rating of "Moderate Buy" and an average price target of approximately $64.20.

Quantbot Technologies LP lifted its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 63.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,008 shares of the company's stock after acquiring an additional 183,707 shares during the period. ON makes up about 0.7% of Quantbot Technologies LP's investment portfolio, making the stock its 11th largest holding. Quantbot Technologies LP owned about 0.08% of ON worth $20,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Watts Gwilliam & Co. LLC increased its position in shares of ON by 7.6% during the first quarter. Watts Gwilliam & Co. LLC now owns 69,750 shares of the company's stock worth $3,063,000 after acquiring an additional 4,920 shares in the last quarter. Corient IA LLC bought a new stake in shares of ON during the first quarter worth $834,000. Northwest & Ethical Investments L.P. boosted its holdings in ON by 55.7% during the first quarter. Northwest & Ethical Investments L.P. now owns 32,286 shares of the company's stock worth $1,418,000 after purchasing an additional 11,548 shares during the last quarter. Fox Run Management L.L.C. boosted its holdings in ON by 43.3% during the first quarter. Fox Run Management L.L.C. now owns 26,968 shares of the company's stock worth $1,184,000 after purchasing an additional 8,155 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in ON during the first quarter worth $5,686,000. Institutional investors own 36.39% of the company's stock.

ON Stock Performance

ONON stock traded down $0.6810 during trading hours on Thursday, reaching $44.5590. The stock had a trading volume of 5,563,654 shares, compared to its average volume of 5,489,970. The stock has a 50-day simple moving average of $50.75 and a 200 day simple moving average of $50.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00. The stock has a market capitalization of $28.06 billion, a PE ratio of 99.02, a price-to-earnings-growth ratio of 2.47 and a beta of 2.24. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05.

Analysts Set New Price Targets

ONON has been the subject of several recent research reports. Robert W. Baird increased their target price on shares of ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Stifel Nicolaus increased their target price on shares of ON from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group set a $40.00 target price on shares of ON and gave the stock an "underperform" rating in a report on Wednesday, August 13th. UBS Group increased their target price on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, Barclays increased their target price on shares of ON from $68.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.20.

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.