Polymer Capital Management HK LTD Buys 33,355 Shares of On Holding AG (NYSE:ONON)

Polymer Capital Management HK LTD lifted its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 61.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,255 shares of the company's stock after purchasing an additional 33,355 shares during the quarter. ON comprises about 0.8% of Polymer Capital Management HK LTD's investment portfolio, making the stock its 28th largest holding. Polymer Capital Management HK LTD's holdings in ON were worth $4,779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ONON. Apollon Wealth Management LLC boosted its stake in ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after purchasing an additional 6,808 shares in the last quarter. RB Capital Management LLC lifted its holdings in shares of ON by 214.8% in the third quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock valued at $1,125,000 after buying an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after buying an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in ON during the fourth quarter worth about $30,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock worth $4,195,000 after acquiring an additional 71,436 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Stock Up 1.2 %

ONON stock traded up $0.51 during midday trading on Friday, reaching $43.53. 2,100,865 shares of the company's stock traded hands, compared to its average volume of 4,651,757. The company has a 50-day simple moving average of $48.03 and a two-hundred day simple moving average of $52.06. On Holding AG has a 1-year low of $29.84 and a 1-year high of $64.05. The company has a market cap of $27.41 billion, a price-to-earnings ratio of 100.61, a PEG ratio of 1.02 and a beta of 2.32.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America initiated coverage on shares of ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 price objective for the company. Needham & Company LLC decreased their price target on shares of ON from $64.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Piper Sandler cut their price objective on ON from $62.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday. Citigroup began coverage on shares of ON in a research note on Wednesday, December 18th. They set a "neutral" rating and a $65.00 price objective for the company. Finally, Barclays raised their target price on ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.00.

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.