Healthcare of Ontario Pension Plan Trust Fund Makes New $8.43 Million Investment in On Holding AG (NYSE:ONON)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 168,000 shares of the company's stock, valued at approximately $8,425,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in ON by 100.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock worth $49,716,000 after purchasing an additional 642,894 shares during the last quarter. Forte Capital LLC ADV purchased a new stake in ON during the 3rd quarter valued at about $742,000. Coronation Fund Managers Ltd. grew its position in ON by 248.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 154,903 shares of the company's stock worth $6,010,000 after acquiring an additional 110,467 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in ON in the 1st quarter worth approximately $486,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of ON during the third quarter valued at approximately $658,000. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ONON shares. HSBC initiated coverage on shares of ON in a research note on Thursday, September 5th. They issued a "hold" rating and a $52.00 target price on the stock. Raymond James raised shares of ON from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. TD Cowen increased their target price on shares of ON from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. UBS Group boosted their price target on ON from $61.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Piper Sandler increased their price objective on ON from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.05.

ON Stock Up 0.7 %

Shares of ONON stock traded up $0.43 during trading hours on Friday, hitting $58.33. 1,290,222 shares of the company's stock traded hands, compared to its average volume of 4,905,145. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 135.65 and a beta of 2.25. The stock's fifty day simple moving average is $51.16 and its two-hundred day simple moving average is $44.91. On Holding AG has a 12-month low of $25.78 and a 12-month high of $59.19.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.