Polymer Capital Management HK LTD Has $4.78 Million Holdings in On Holding AG (NYSE:ONON)

Polymer Capital Management HK LTD raised its position in On Holding AG (NYSE:ONON) by 61.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,255 shares of the company’s stock after buying an additional 33,355 shares during the period. ON accounts for about 0.8% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 28th biggest position. Polymer Capital Management HK LTD’s holdings in ON were worth $4,779,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Centiva Capital LP raised its position in shares of ON by 16.5% during the third quarter. Centiva Capital LP now owns 12,377 shares of the company’s stock worth $621,000 after acquiring an additional 1,754 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of ON in the 3rd quarter valued at $453,000. Stifel Financial Corp raised its position in shares of ON by 5.3% during the third quarter. Stifel Financial Corp now owns 176,472 shares of the company’s stock worth $8,850,000 after purchasing an additional 8,892 shares during the period. State Street Corp raised its holdings in ON by 1.8% during the 3rd quarter. State Street Corp now owns 228,847 shares of the company’s stock worth $11,477,000 after buying an additional 4,152 shares during the period. Finally, Insigneo Advisory Services LLC bought a new stake in ON in the 3rd quarter valued at $329,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Up 5.1 %

ONON stock opened at $39.56 on Friday. The business’s 50-day moving average price is $50.36 and its 200-day moving average price is $52.40. The stock has a market cap of $24.91 billion, a P/E ratio of 92.00, a PEG ratio of 1.02 and a beta of 2.32. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised 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. Hsbc Global Res upgraded ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Needham & Company LLC decreased their price target on shares of ON from $64.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target on the stock. Finally, HSBC raised shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.45.

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.