MidAtlantic Capital Management Inc. Buys New Position in On Holding AG (NYSE:ONON)

MidAtlantic Capital Management Inc. purchased a new stake in On Holding AG (NYSE:ONON) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 582 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 1832 Asset Management L.P. grew its position in ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after purchasing an additional 2,406,200 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after buying an additional 1,315,006 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of ON in the second quarter valued at approximately $43,456,000. Renaissance Technologies LLC purchased a new stake in shares of ON during the second quarter valued at approximately $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the period. 33.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONON. KeyCorp raised their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Raymond James began coverage on shares of ON in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $46.00 price objective on the stock. Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on shares of ON from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Stock Down 0.8 %

ON stock opened at $51.48 on Tuesday. The business has a 50-day simple moving average of $49.56 and a 200 day simple moving average of $43.34. On Holding AG has a 52 week low of $25.78 and a 52 week high of $56.44. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of 119.72 and a beta of 2.25.

ON 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.