HMS Capital Management LLC Makes New Investment in On Holding AG (NYSE:ONON)

HMS Capital Management LLC bought a new stake in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,752 shares of the company’s stock, valued at approximately $315,000.

Several other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in shares of ON by 27.4% during 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in ON by 34.1% in the 4th 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. Cerity Partners LLC boosted its stake in ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after purchasing an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after purchasing an additional 459,157 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in ON by 4.3% during the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock worth $21,040,000 after purchasing an additional 17,362 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONON. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $58.00 to $63.00 in a research report on Thursday, November 21st. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Wednesday. Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. Finally, TD Cowen increased their price target on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five research 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 stock. According to MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.73.

ON Stock Performance

Shares of NYSE:ONON opened at $54.09 on Thursday. The stock has a market capitalization of $34.06 billion, a P/E ratio of 125.79, a PEG ratio of 1.20 and a beta of 2.30. On Holding AG has a 1 year low of $27.37 and a 1 year high of $64.05. The stock has a 50-day simple moving average of $57.15 and a 200-day simple moving average of $51.40.

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, 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.