Riposte Capital LLC Invests $6.85 Million in On Holding AG (NYSE:ONON)

Riposte Capital LLC purchased a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 125,000 shares of the company’s stock, valued at approximately $6,846,000. ON makes up approximately 1.3% of Riposte Capital LLC’s investment portfolio, making the stock its 22nd largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its stake in shares of ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after buying an additional 6,808 shares in the last quarter. RB Capital Management LLC grew its holdings in ON by 214.8% during the third quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after acquiring an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC raised its position in ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after acquiring an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in ON in the fourth quarter valued at $30,000. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of ON by 584.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after purchasing an additional 71,436 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Williams Trading raised their price objective on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of ON in a research report on Tuesday, March 4th. Citigroup initiated coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target on the stock. KeyCorp reaffirmed an “overweight” rating and set a $68.00 price objective on shares of ON in a report on Wednesday, March 5th. Finally, UBS Group upped their target price on ON from $65.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $61.90.

ON Trading Up 1.4 %

ON stock opened at $46.22 on Monday. The stock has a fifty day moving average price of $53.05 and a 200 day moving average price of $52.66. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The firm has a market capitalization of $29.10 billion, a P/E ratio of 107.49, a PEG ratio of 1.02 and a beta of 2.35.

About ON

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.