On Holding AG (NYSE:ONON) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in shares of On Holding AG (NYSE:ONON) by 94.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 125,878 shares of the company’s stock after acquiring an additional 60,976 shares during the period. Verition Fund Management LLC’s holdings in ON were worth $6,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONON. 1832 Asset Management L.P. boosted its stake in ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after purchasing an additional 1,315,006 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after buying an additional 642,894 shares during the period. Fred Alger Management LLC increased its stake in shares of ON by 22.8% during the second quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock worth $44,734,000 after acquiring an additional 213,815 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in ON during the 2nd quarter worth approximately $43,456,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Price Performance

Shares of ON stock opened at $58.53 on Tuesday. On Holding AG has a 1-year low of $25.78 and a 1-year high of $59.19. The company has a market capitalization of $36.85 billion, a PE ratio of 136.12 and a beta of 2.25. The business has a 50-day moving average of $51.32 and a 200-day moving average of $45.12.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of ON from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. TD Cowen boosted their price objective on shares of ON from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, KeyCorp increased their price target on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.05.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.