SPX Gestao de Recursos Ltda Acquires Shares of 100,000 On Holding AG (NYSE:ONON)

SPX Gestao de Recursos Ltda acquired a new stake in shares of On Holding AG (NYSE:ONON) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 100,000 shares of the company’s stock, valued at approximately $5,477,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA bought a new stake in ON during the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in ON during the 3rd quarter valued at about $29,000. Legacy Bridge LLC bought a new stake in ON during the 4th quarter valued at about $43,000. Arcadia Investment Management Corp MI bought a new stake in ON during the 4th quarter valued at about $53,000. Finally, VisionPoint Advisory Group LLC bought a new stake in ON during the 4th quarter valued at about $65,000. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ONON. Morgan Stanley lifted their price target on shares of ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a research note on Wednesday, February 12th. UBS Group lifted their price target on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Stifel Nicolaus lifted their price target on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target for the company. Four 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.62.

ON Price Performance

ONON opened at $44.18 on Tuesday. The firm has a market cap of $27.82 billion, a P/E ratio of 102.75, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a 1-year low of $27.37 and a 1-year high of $64.05. The company has a 50 day simple moving average of $54.90 and a two-hundred day simple moving average of $52.65.

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.