PDT Partners LLC Takes Position in On Holding AG (NYSE:ONON)

PDT Partners LLC acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,324 shares of the company's stock, valued at approximately $1,120,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ONON. Ameritas Advisory Services LLC increased its position in shares of ON by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company's stock valued at $924,000 after purchasing an additional 300 shares during the last quarter. Capital Advisors Inc. OK boosted its stake in shares of ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company's stock worth $310,000 after purchasing an additional 301 shares during the period. Artemis Investment Management LLP grew its holdings in ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company's stock valued at $637,000 after purchasing an additional 302 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company's stock worth $404,000 after purchasing an additional 325 shares during the period. Finally, Asset Dedication LLC raised its position in ON by 25.8% in the 2nd quarter. Asset Dedication LLC now owns 1,592 shares of the company's stock worth $62,000 after purchasing an additional 327 shares during the period. 33.11% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Up 0.3 %

Shares of NYSE ONON traded up $0.20 during trading hours on Monday, hitting $58.53. 3,219,815 shares of the stock were exchanged, compared to its average volume of 4,897,882. On Holding AG has a 12 month low of $25.78 and a 12 month high of $59.19. The firm has a fifty day moving average price of $51.32 and a 200-day moving average price of $45.12. The company has a market cap of $36.85 billion, a PE ratio of 136.12 and a beta of 2.25.

Wall Street Analysts Forecast Growth

ONON has been the topic of several recent analyst reports. Morgan Stanley increased their price target on ON from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. Barclays increased their target price on ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Telsey Advisory Group reissued an "outperform" rating and set a $53.00 target price on shares of ON in a research note on Tuesday, November 12th. Needham & Company LLC started coverage on shares of ON in a report on Friday, November 22nd. They issued a "buy" rating and a $64.00 price target on the stock. Finally, TD Cowen lifted their price objective on shares of ON from $58.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Four equities research 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. Based on data from MarketBeat, ON presently has a consensus rating of "Moderate Buy" and an average target price of $56.05.

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.