Capricorn Fund Managers Ltd Invests $3.54 Million in On Holding AG (NYSE:ONON)

Capricorn Fund Managers Ltd purchased a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 64,067 shares of the company’s stock, valued at approximately $3,536,000.

A number of other hedge funds have also recently added to or reduced their stakes in ONON. Capital Advisors Inc. OK raised its holdings in ON by 5.1% during the third quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company’s stock valued at $310,000 after buying an additional 301 shares in the last quarter. Sage Capital Advisors llc increased its holdings in shares of ON by 0.3% during the 3rd quarter. Sage Capital Advisors llc now owns 99,859 shares of the company’s stock valued at $5,008,000 after acquiring an additional 328 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Blue Trust Inc. lifted its holdings in ON by 319.8% in the 3rd 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. Finally, Private Trust Co. NA bought a new stake in ON during the third quarter worth approximately $26,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

NYSE:ONON opened at $58.02 on Tuesday. The business’s 50-day simple moving average is $56.11 and its 200-day simple moving average is $49.06. On Holding AG has a fifty-two week low of $26.03 and a fifty-two week high of $60.12. The stock has a market capitalization of $36.53 billion, a PE ratio of 134.94, a price-to-earnings-growth ratio of 1.19 and a beta of 2.30.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler increased their target price on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, November 13th. Citigroup assumed coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. TD Cowen lifted their price objective on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, UBS Group restated a “buy” rating and issued a $63.00 target price on shares of ON in a research note on Friday, December 27th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.50.

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.