Quantbot Technologies LP Purchases 88,443 Shares of On Holding AG (NYSE:ONON)

Quantbot Technologies LP increased its stake in On Holding AG (NYSE:ONON - Free Report) by 130.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,094 shares of the company's stock after purchasing an additional 88,443 shares during the period. Quantbot Technologies LP's holdings in ON were worth $7,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA acquired a new stake in shares of ON during the third quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in ON by 319.8% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock valued at $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON in the 3rd quarter valued at $29,000. Finally, Quarry LP bought a new stake in shares of ON in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 33.11% of the company's stock.

ON Price Performance

Shares of ONON traded down $0.49 on Tuesday, reaching $57.98. The company's stock had a trading volume of 2,506,470 shares, compared to its average volume of 4,934,091. On Holding AG has a 12-month low of $25.78 and a 12-month high of $59.19. The stock has a market capitalization of $36.51 billion, a P/E ratio of 136.07 and a beta of 2.25. The stock's 50 day simple moving average is $50.52 and its two-hundred day simple moving average is $44.27.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of ON from $45.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. UBS Group lifted their price target on shares of ON from $61.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Telsey Advisory Group reiterated an "outperform" rating and set a $53.00 price objective on shares of ON in a report on Tuesday, November 12th. Evercore ISI raised shares of ON to an "overweight" rating and boosted their price target for the stock from $43.00 to $47.00 in a research report on Monday, August 12th. Finally, Raymond James upgraded ON from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Four 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 company. According to MarketBeat, the stock currently 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.