Sciencast Management LP Takes $1.29 Million Position in On Holding AG (NYSE:ONON)

Sciencast Management LP acquired a new stake in On Holding AG (NYSE:ONON) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,461 shares of the company’s stock, valued at approximately $1,285,000.

A number of other hedge funds have also made changes to their positions in ONON. Raymond James Financial Inc. acquired a new stake in shares of ON in the 4th quarter valued at about $28,575,000. Cerity Partners LLC boosted its position in shares of ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after purchasing an additional 471,323 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after purchasing an additional 459,157 shares during the period. Jennison Associates LLC boosted its position in shares of ON by 27.4% in the 4th 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 during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after purchasing an additional 349,789 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ONON shares. KeyCorp reissued an “overweight” rating and issued a $68.00 target price on shares of ON in a research report on Wednesday, March 5th. Telsey Advisory Group reissued an “outperform” rating and issued a $67.00 target price on shares of ON in a research report on Tuesday, March 4th. Barclays increased their price objective on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Williams Trading increased their price objective on ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, UBS Group increased their price objective on ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ON currently has a consensus rating of “Buy” and an average price target of $61.90.

ON Trading Up 1.4 %

Shares of ONON stock opened at $46.22 on Friday. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The company has a market cap of $29.10 billion, a price-to-earnings ratio of 107.49, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The stock has a 50 day simple moving average of $53.05 and a 200-day simple moving average of $52.61.

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.