Penserra Capital Management LLC Grows Stake in On Holding AG (NYSE:ONON)

Penserra Capital Management LLC increased its holdings in On Holding AG (NYSE:ONON) by 17.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,801 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Penserra Capital Management LLC’s holdings in ON were worth $1,694,000 as of its most recent SEC filing.

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

ON Trading Up 0.7 %

Shares of ONON opened at $58.51 on Tuesday. The firm has a fifty day moving average price of $50.34 and a 200-day moving average price of $44.08. The firm has a market capitalization of $36.84 billion, a P/E ratio of 135.96 and a beta of 2.25. On Holding AG has a 12-month low of $25.78 and a 12-month high of $59.19.

Analyst Ratings Changes

A number of brokerages recently commented on ONON. Barclays increased their price target on ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their target price on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. TD Cowen upped their price target on shares of ON from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Truist Financial lifted their price objective on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group upped their target price on shares of ON from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus 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.