Quantitative Investment Management LLC Takes $410,000 Position in On Holding AG $ONON

Key Points

• Quantitative Investment Management LLC acquired 9,339 shares of On Holding AG, valued at approximately $410,000, marking a new investment stake in the company.
• Institutional ownership of On Holding AG has significantly increased, with hedge funds like Jennison Associates LLC and T. Rowe Price Investment Management Inc. boosting their positions by 136.6% and 1.0%, respectively.
• Analysts are mixed on the stock's performance, with a consensus target price of $64.20, while Jefferies set an underperform rating and Piper Sandler issued an overweight rating.

Quantitative Investment Management LLC bought a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,339 shares of the company's stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC boosted its position in 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 acquiring an additional 2,798,794 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in ON by 1.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company's stock worth $149,136,000 after acquiring an additional 34,120 shares during the last quarter. 1832 Asset Management L.P. boosted its position in ON by 8.3% during the first quarter. 1832 Asset Management L.P. now owns 2,344,700 shares of the company's stock worth $102,979,000 after acquiring an additional 178,750 shares during the last quarter. Nuveen LLC acquired a new position in ON during the first quarter worth about $102,850,000. Finally, Voloridge Investment Management LLC boosted its position in ON by 10.7% during the fourth quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock worth $111,013,000 after acquiring an additional 196,270 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Up 1.0%

ONON stock traded up $0.46 during trading on Friday, hitting $45.05. 4,561,879 shares of the company's stock were exchanged, compared to its average volume of 5,446,689. The business has a 50-day moving average price of $49.84 and a two-hundred day moving average price of $49.78. On Holding AG has a 52-week low of $34.59 and a 52-week 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 stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of 100.12, a PEG ratio of 4.99 and a beta of 2.24.

Analyst Upgrades and Downgrades

ONON has been the topic of several research analyst reports. Truist Financial boosted their price objective on shares of ON from $61.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Stifel Nicolaus boosted their price target on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Cowen reiterated a "buy" rating on shares of ON in a report on Wednesday, May 14th. Jefferies Financial Group set a $40.00 price objective on ON and gave the company an "underperform" rating in a research note on Wednesday, August 13th. Finally, UBS Group increased their target price on ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ON presently has an average rating of "Moderate Buy" and an average price target 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.