Two Sigma Investments LP Increases Stock Holdings in On Holding AG (NYSE:ONON)

Two Sigma Investments LP increased its position in shares of On Holding AG (NYSE:ONON - Free Report) by 265.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 245,498 shares of the company's stock after acquiring 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 reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Bridge LLC acquired a new stake in shares of ON during the fourth quarter valued at about $43,000. Bernard Wealth Management Corp. bought a new position in ON in the 4th quarter valued at approximately $44,000. Arcadia Investment Management Corp MI acquired a new stake in ON during the 4th quarter worth approximately $53,000. VisionPoint Advisory Group LLC bought a new stake in ON during the 4th quarter worth approximately $65,000. Finally, Point72 Hong Kong Ltd acquired a new position in ON in the 4th quarter valued at approximately $69,000. Institutional investors own 36.39% of the company's stock.

Analysts Set New Price Targets

ONON has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price target for the company. in a research note on Wednesday, February 12th. Robert W. Baird raised their target price on ON from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Citigroup raised ON from a "neutral" rating to a "buy" rating and cut their target price for the stock from $65.00 to $60.00 in a report on Monday, April 28th. Truist Financial increased their price target on ON from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus raised their price objective on ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $62.45.

ON Stock Down 1.4%

NYSE:ONON traded down $0.86 during trading hours on Wednesday, reaching $59.82. The company had a trading volume of 4,043,269 shares, compared to its average volume of 4,619,787. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a market cap of $37.67 billion, a price-to-earnings ratio of 139.12, a P/E/G ratio of 1.02 and a beta of 2.30. The business's 50-day simple moving average is $47.93 and its two-hundred day simple moving average is $52.25.

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.