Arrowstreet Capital Limited Partnership Acquires New Holdings in On Holding AG (NYSE:ONON)

Arrowstreet Capital Limited Partnership acquired a new position in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,438,726 shares of the company's stock, valued at approximately $78,799,000. Arrowstreet Capital Limited Partnership owned about 0.23% of ON at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Advisors Inc. OK lifted its stake in shares of ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company's stock valued at $350,000 after buying an additional 200 shares during the period. Keystone Investors PTE Ltd. raised its holdings in ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company's stock valued at $1,639,000 after acquiring an additional 228 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of ON by 2.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company's stock worth $516,000 after acquiring an additional 259 shares during the period. Atria Investments Inc increased its position in shares of ON by 6.6% during the fourth 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 period. Finally, J.W. Cole Advisors Inc. raised its stake in shares of ON by 3.6% in the fourth 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 in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC reduced their price objective on shares of ON from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday. HSBC raised ON from a "hold" rating to a "buy" rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. KeyCorp restated an "overweight" rating and set a $68.00 target price on shares of ON in a research report on Wednesday, March 5th. Bank of America started coverage on shares of ON in a research note on Tuesday, January 7th. They issued a "buy" rating and a $73.00 target price on the stock. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $67.00 price target on shares of ON in a report on Tuesday. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.45.

ON Stock Up 5.3 %

ON stock traded up $2.26 during midday trading on Wednesday, hitting $44.96. 4,977,563 shares of the stock were exchanged, compared to its average volume of 4,398,422. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The stock has a market capitalization of $28.31 billion, a PE ratio of 104.56, a P/E/G ratio of 1.02 and a beta of 2.35. The company has a fifty day simple moving average of $51.23 and a two-hundred day simple moving average of $52.58.

ON 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.