968 Shares in On Holding AG (NYSE:ONON) Acquired by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI purchased a new stake in On Holding AG (NYSE:ONON) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 968 shares of the company’s stock, valued at approximately $53,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ONON shares. Barclays raised their price target on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. UBS Group reissued a “buy” rating and issued a $63.00 price objective on shares of ON in a report on Friday, December 27th. Citigroup started coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price on the stock. KeyCorp increased their price target on shares of ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, Truist Financial raised their price objective on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Five 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.73.

ON Price Performance

ON stock opened at $48.23 on Friday. The stock’s 50 day moving average price is $56.37 and its 200 day moving average price is $51.91. The company has a market cap of $30.37 billion, a PE ratio of 112.16, a price-to-earnings-growth ratio of 1.04 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.

ON Company 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.