Quantbot Technologies LP Grows Stake in On Holding AG (NYSE:ONON)

Quantbot Technologies LP boosted its stake in shares of On Holding AG (NYSE:ONON) by 130.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 156,094 shares of the company’s stock after buying an additional 88,443 shares during the period. Quantbot Technologies LP’s holdings in ON were worth $7,828,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ONON. Private Trust Co. NA purchased a new stake in ON during the 3rd quarter valued at $26,000. Blue Trust Inc. lifted its stake in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of ON in the third quarter worth approximately $29,000. Finally, Quarry LP bought a new stake in shares of ON during the 2nd quarter worth approximately $32,000. 33.11% of the stock is owned by institutional investors.

ON Price Performance

Shares of ONON stock opened at $58.51 on Tuesday. The stock’s fifty day moving average price is $50.52 and its 200 day moving average price is $44.27. On Holding AG has a 1-year low of $25.78 and a 1-year high of $59.19. The company has a market cap of $36.84 billion, a price-to-earnings ratio of 136.07 and a beta of 2.25.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. KeyCorp increased their price objective on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $53.00 target price on shares of ON in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group increased their price target on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.05.

About ON

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.