Lord Abbett & CO. LLC Has $29.83 Million Stock Position in On Holding AG (NYSE:ONON)

Lord Abbett & CO. LLC raised its position in On Holding AG (NYSE:ONON - Free Report) by 338.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 594,901 shares of the company's stock after purchasing an additional 459,157 shares during the period. Lord Abbett & CO. LLC owned approximately 0.09% of ON worth $29,834,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA bought a new stake in ON during the 3rd quarter worth approximately $26,000. Blue Trust Inc. increased its position in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after acquiring an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after acquiring an additional 400 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in ON in the 3rd quarter valued at $29,000. Finally, Quarry LP bought a new position in ON during the 2nd quarter worth about $32,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

ONON stock traded up $0.58 during midday trading on Monday, reaching $57.88. 2,451,109 shares of the company were exchanged, compared to its average volume of 4,817,110. On Holding AG has a one year low of $25.78 and a one year high of $60.12. The firm has a market capitalization of $36.44 billion, a price-to-earnings ratio of 134.61 and a beta of 2.30. The business has a 50-day moving average price of $52.77 and a two-hundred day moving average price of $46.38.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. 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. Raymond James upgraded ON from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. The Goldman Sachs Group raised their price target on shares of ON from $50.00 to $57.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Bank of America raised shares of ON from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, Barclays increased their target price on shares of ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.38.

ON 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.