Liontrust Investment Partners LLP Invests $3.22 Million in On Holding AG $ONON

Liontrust Investment Partners LLP bought a new position in shares of On Holding AG (NYSE:ONON) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 61,803 shares of the company’s stock, valued at approximately $3,217,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ONON. Washington Trust Advisors Inc. acquired a new stake in ON during the 2nd quarter worth about $29,000. Smartleaf Asset Management LLC raised its holdings in shares of ON by 3,392.6% during the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock valued at $42,000 after acquiring an additional 916 shares during the period. Quarry LP acquired a new stake in shares of ON during the first quarter valued at approximately $60,000. Ramirez Asset Management Inc. lifted its position in shares of ON by 20.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares in the last quarter. Finally, WD Rutherford LLC acquired a new position in ON in the 2nd quarter worth approximately $73,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

ONON stock opened at $48.73 on Monday. The firm has a 50 day moving average of $42.08 and a two-hundred day moving average of $46.73. On Holding AG has a 12 month low of $34.38 and a 12 month high of $64.05. The company has a market capitalization of $30.60 billion, a price-to-earnings ratio of 63.29, a P/E/G ratio of 2.89 and a beta of 2.16. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ONON. Jefferies Financial Group reissued an “underperform” rating and set a $31.00 target price on shares of ON in a research note on Wednesday, November 12th. Evercore ISI reduced their price objective on ON from $68.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Singular Research raised ON to a “strong-buy” rating in a research note on Monday, November 17th. TD Cowen increased their price target on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Barclays lowered their price objective on shares of ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.27.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.