Quantedge Capital Pte Ltd Takes $4.73 Million Position in On Holding AG (NYSE:ONON)

Quantedge Capital Pte Ltd purchased a new position in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 86,400 shares of the company's stock, valued at approximately $4,732,000. ON accounts for approximately 1.7% of Quantedge Capital Pte Ltd's portfolio, making the stock its 15th largest position.

Several other hedge funds also recently made changes to their positions in ONON. FMR LLC boosted its stake in ON by 1.6% during the fourth quarter. FMR LLC now owns 28,875,965 shares of the company's stock valued at $1,581,537,000 after buying an additional 462,738 shares during the period. Alliancebernstein L.P. boosted its position in shares of ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock valued at $951,808,000 after acquiring an additional 471,805 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of ON by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock worth $184,109,000 after purchasing an additional 18,752 shares in the last quarter. Norges Bank bought a new position in shares of ON in the fourth quarter worth approximately $164,574,000. Finally, Jennison Associates LLC raised its stake in ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock valued at $112,259,000 after purchasing an additional 440,685 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of research analyst reports. Evercore ISI increased their price target on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Needham & Company LLC increased their price objective on ON from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Williams Trading increased their price target on shares of ON from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus boosted their price objective on shares of ON from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $62.45.

ON Trading Up 0.4%

Shares of NYSE:ONON traded up $0.26 during mid-day trading on Monday, reaching $60.16. The stock had a trading volume of 2,050,079 shares, compared to its average volume of 4,617,166. The business's 50 day moving average price is $46.16 and its 200 day moving average price is $51.75. On Holding AG has a 1 year low of $34.59 and a 1 year high of $64.05. The company has a market cap of $37.88 billion, a P/E ratio of 140.10, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30.

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.