Verition Fund Management LLC Boosts Stock Position in On Holding AG (NYSE:ONON)

Verition Fund Management LLC lifted its holdings in shares of On Holding AG (NYSE:ONON) by 94.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,878 shares of the company’s stock after buying an additional 60,976 shares during the quarter. Verition Fund Management LLC’s holdings in ON were worth $6,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ONON. 1832 Asset Management L.P. boosted its holdings in ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after buying an additional 2,406,200 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of ON by 574.3% in the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after acquiring an additional 1,315,006 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of ON during the second quarter worth approximately $43,456,000. Renaissance Technologies LLC acquired a new position in ON in the 2nd quarter valued at $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings 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 purchasing an additional 642,894 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the subject of a number of recent research reports. HSBC started coverage on shares of ON in a research report on Thursday, September 5th. They issued a “hold” rating and a $52.00 target price for the company. TD Cowen raised their target price on shares of ON from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. UBS Group boosted their target price on ON from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 price target on shares of ON in a report on Tuesday, November 12th. Finally, BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus target price of $56.05.

ON Trading Up 0.3 %

ONON opened at $58.53 on Tuesday. The stock’s 50-day moving average price is $51.32 and its 200 day moving average price is $45.12. On Holding AG has a 12-month low of $25.78 and a 12-month high of $59.19. The firm has a market cap of $36.85 billion, a price-to-earnings ratio of 136.12 and a beta of 2.25.

About ON

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.