Riposte Capital LLC Makes New $6.85 Million Investment in On Holding AG (NYSE:ONON)

Riposte Capital LLC bought a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 125,000 shares of the company's stock, valued at approximately $6,846,000. ON comprises about 1.3% of Riposte Capital LLC's portfolio, making the stock its 22nd biggest holding.

A number of other large investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in ON during the fourth quarter worth approximately $28,575,000. Cerity Partners LLC lifted its holdings in ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company's stock worth $36,083,000 after purchasing an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock valued at $29,834,000 after purchasing an additional 459,157 shares during the period. Jennison Associates LLC grew its holdings in ON by 27.4% in the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock valued at $112,259,000 after buying an additional 440,685 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in ON by 34.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after buying an additional 349,789 shares during the period. Institutional investors own 36.39% of the company's stock.

ON Stock Down 4.1 %

Shares of NYSE ONON traded down $1.91 during midday trading on Friday, reaching $44.10. 4,702,171 shares of the company were exchanged, compared to its average volume of 4,371,741. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The stock has a market cap of $27.76 billion, a P/E ratio of 102.55, a PEG ratio of 1.02 and a beta of 2.35. The stock's 50-day moving average price is $52.13 and its 200-day moving average price is $52.62.

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Analyst Upgrades and Downgrades

ONON has been the topic of several research reports. The Goldman Sachs Group downgraded shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price target on the stock. in a research note on Wednesday, February 12th. UBS Group increased their target price on shares of ON from $65.00 to $73.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Williams Trading boosted their price target on ON from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, TD Cowen raised their price objective on ON from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ON has a consensus rating of "Buy" and a consensus target price of $61.90.

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.