Anomaly Capital Management LP Sells 1,947,762 Shares of On Holding AG (NYSE:ONON)

Anomaly Capital Management LP reduced its position in On Holding AG (NYSE:ONON - Free Report) by 89.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,169 shares of the company's stock after selling 1,947,762 shares during the quarter. Anomaly Capital Management LP's holdings in ON were worth $12,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its holdings in shares of ON by 1.8% in the third quarter. State Street Corp now owns 228,847 shares of the company's stock worth $11,477,000 after purchasing an additional 4,152 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of ON during the third quarter valued at about $259,000. Lord Abbett & CO. LLC boosted its position in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock valued at $29,834,000 after acquiring an additional 459,157 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of ON by 96.5% during the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock worth $5,104,000 after acquiring an additional 49,995 shares during the period. Finally, Central Pacific Bank Trust Division raised its position in shares of ON by 12.7% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company's stock worth $566,000 after acquiring an additional 1,161 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ONON. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price objective on shares of ON in a report on Tuesday, April 1st. Morgan Stanley lifted their price target on shares of ON from $62.00 to $66.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Bank of America assumed coverage on shares of ON in a report on Tuesday, January 7th. They issued a "buy" rating and a $73.00 price objective on the stock. Hsbc Global Res upgraded shares of ON from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus cut their price target on ON from $66.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ON currently has an average rating of "Moderate Buy" and an average target price of $60.00.

ON Stock Performance

Shares of ONON stock traded up $0.25 on Friday, reaching $45.01. The stock had a trading volume of 3,849,882 shares, compared to its average volume of 4,682,884. The stock has a market cap of $28.34 billion, a P/E ratio of 104.68, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32. On Holding AG has a 1 year low of $29.84 and a 1 year high of $64.05. The company has a 50 day simple moving average of $45.37 and a 200 day simple moving average of $51.49.

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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.