Entropy Technologies LP Takes $927,000 Position in On Holding AG (NYSE:ONON)

Entropy Technologies LP acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,934 shares of the company's stock, valued at approximately $927,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ONON. Private Trust Co. NA acquired a new stake in shares of ON during the third quarter valued at about $26,000. Blue Trust Inc. raised its position in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in 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 purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in ON in the 3rd quarter valued at $29,000. Finally, Strategic Financial Concepts LLC acquired a new position in ON in the 4th quarter valued at $30,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ONON shares. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective on the stock in a research note on Wednesday, November 13th. Stifel Nicolaus upped their target price on shares of ON from $60.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Williams Trading upgraded shares of ON from a "hold" rating to a "buy" rating and upped their target price for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. TD Cowen increased their price objective on shares of ON from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Morgan Stanley increased their price objective on shares of ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.73.

ON Price Performance

Shares of NYSE:ONON traded down $0.43 during midday trading on Friday, reaching $51.94. The company had a trading volume of 5,120,818 shares, compared to its average volume of 3,755,712. The stock's fifty day moving average price is $56.89 and its 200-day moving average price is $51.49. The stock has a market capitalization of $32.70 billion, a P/E ratio of 120.79, a PEG ratio of 1.20 and a beta of 2.30. On Holding AG has a one year low of $27.37 and a one year high of $64.05.

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.