Townsquare Capital LLC Makes New $609,000 Investment in On Holding AG (NYSE:ONON)

Townsquare Capital LLC purchased a new stake in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,137 shares of the company’s stock, valued at approximately $609,000.

A number of other hedge funds have also recently added to or reduced their stakes in ONON. Quantbot Technologies LP lifted its stake in shares of ON by 130.7% in the 3rd quarter. Quantbot Technologies LP now owns 156,094 shares of the company’s stock valued at $7,828,000 after purchasing an additional 88,443 shares during the last quarter. Bank of Montreal Can raised its stake in shares of ON by 27.2% in the 3rd quarter. Bank of Montreal Can now owns 46,320 shares of the company’s stock valued at $2,368,000 after acquiring an additional 9,895 shares in the last quarter. Private Trust Co. NA acquired a new stake in ON in the 3rd quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in ON during the third quarter worth approximately $658,000. Finally, Penserra Capital Management LLC grew its holdings in ON by 17.4% during the third quarter. Penserra Capital Management LLC now owns 33,801 shares of the company’s stock valued at $1,694,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Stock Performance

Shares of NYSE ONON opened at $59.55 on Wednesday. The business has a fifty day moving average of $51.50 and a two-hundred day moving average of $45.27. On Holding AG has a 52-week low of $25.78 and a 52-week high of $59.84. The stock has a market cap of $37.50 billion, a PE ratio of 138.49 and a beta of 2.30.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ONON shares. TD Cowen upped their price objective on shares of ON from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Hsbc Global Res upgraded shares of ON to a “hold” rating in a report on Thursday, September 5th. Needham & Company LLC started coverage on ON in a research note on Friday, November 22nd. They issued a “buy” rating and a $64.00 price objective on the stock. The Goldman Sachs Group increased their target price on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Four equities 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.