Counterpoint Mutual Funds LLC Invests $271,000 in On Holding AG (NYSE:ONON)

Counterpoint Mutual Funds LLC bought a new position in On Holding AG (NYSE:ONON) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,941 shares of the company’s stock, valued at approximately $271,000.

Other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA purchased a new stake in shares of ON in the third quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the third quarter worth $29,000. Legacy Bridge LLC purchased a new stake in shares of ON in the fourth quarter worth $43,000. Arcadia Investment Management Corp MI purchased a new stake in shares of ON in the fourth quarter worth $53,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of ON in the fourth quarter worth $65,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Down 3.9 %

NYSE ONON opened at $46.18 on Wednesday. The stock’s 50-day moving average price is $53.63 and its 200-day moving average price is $52.66. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The company has a market capitalization of $29.08 billion, a P/E ratio of 107.40, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35.

Analyst Ratings Changes

ONON has been the topic of several recent analyst reports. Bank of America initiated coverage on ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price objective on the stock. TD Cowen increased their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, March 11th. Barclays increased their price objective on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of ON in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $61.90.

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.