SPX Gestao de Recursos Ltda Invests $5.48 Million in On Holding AG (NYSE:ONON)

SPX Gestao de Recursos Ltda purchased a new position in On Holding AG (NYSE:ONON) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $5,477,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Advisors Inc. OK grew its holdings in shares of ON by 3.2% during the 4th quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after purchasing an additional 200 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of ON by 2.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after purchasing an additional 259 shares during the last quarter. Atria Investments Inc grew its holdings in shares of ON by 6.6% during the 4th quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after purchasing an additional 341 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of ON by 3.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 10,708 shares of the company’s stock valued at $586,000 after purchasing an additional 373 shares during the last quarter. Finally, Vista Capital Partners Inc. grew its holdings in shares of ON by 2.4% during the 4th quarter. Vista Capital Partners Inc. now owns 18,430 shares of the company’s stock valued at $1,009,000 after purchasing an additional 430 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ONON shares. Robert W. Baird increased their target price on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays increased their price target on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Stifel Nicolaus increased their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a research report on Wednesday, February 12th. Finally, BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.62.

ON Price Performance

Shares of NYSE ONON opened at $44.18 on Tuesday. On Holding AG has a 1 year low of $27.37 and a 1 year high of $64.05. The stock has a market cap of $27.82 billion, a P/E ratio of 102.75, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The firm has a 50-day moving average of $54.90 and a 200 day moving average of $52.65.

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, 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.