Two Sigma Investments LP grew its stake in On Holding AG (NYSE:ONON - Free Report) by 265.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,498 shares of the company's stock after purchasing an additional 178,362 shares during the period. Two Sigma Investments LP's holdings in ON were worth $13,446,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in ON during the fourth quarter worth $30,000. Legacy Bridge LLC acquired a new position in shares of ON in the fourth quarter worth about $43,000. Bernard Wealth Management Corp. purchased a new stake in shares of ON during the 4th quarter worth about $44,000. Arcadia Investment Management Corp MI acquired a new stake in shares of ON during the 4th quarter valued at about $53,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of ON in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 36.39% of the company's stock.
ON Price Performance
Shares of ONON stock traded up $2.10 during trading on Tuesday, hitting $60.54. 4,827,815 shares of the stock traded hands, compared to its average volume of 4,622,087. The firm's fifty day moving average price is $47.63 and its 200-day moving average price is $52.19. The firm has a market capitalization of $38.12 billion, a P/E ratio of 140.79, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05.
Analyst Ratings Changes
A number of equities analysts have issued reports on ONON shares. Raymond James reiterated a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. The Goldman Sachs Group cut shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price target on the stock. in a research note on Wednesday, February 12th. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price objective on shares of ON in a research report on Tuesday, May 13th. Williams Trading increased their price objective on shares of ON from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Jefferies Financial Group started coverage on shares of ON in a research note on Tuesday, April 1st. They set a "hold" rating and a $44.00 target price for the company. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, ON currently has a consensus rating of "Buy" and an average price target of $62.45.
Read Our Latest Stock Report on ONON
ON Company Profile
(
Free Report)
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.
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