Townsquare Capital LLC Invests $609,000 in On Holding AG (NYSE:ONON)

Townsquare Capital LLC acquired a new stake in shares of On Holding AG (NYSE:ONON - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,137 shares of the company's stock, valued at approximately $609,000.

A number of other institutional investors and hedge funds have also modified their holdings of ONON. 1832 Asset Management L.P. grew its position in ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company's stock valued at $93,500,000 after acquiring an additional 2,406,200 shares during the period. Acadian Asset Management LLC grew its position in ON by 574.3% in the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company's stock valued at $59,878,000 after acquiring an additional 1,315,006 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in ON by 100.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock valued at $49,716,000 after acquiring an additional 642,894 shares during the period. Fred Alger Management LLC grew its position in ON by 22.8% in the second quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company's stock valued at $44,734,000 after acquiring an additional 213,815 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in ON in the second quarter valued at $43,456,000. 33.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on ONON shares. Raymond James upgraded ON from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. Evercore ISI upgraded ON to an "overweight" rating and increased their target price for the stock from $43.00 to $47.00 in a report on Monday, August 12th. UBS Group increased their target price on ON from $61.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Williams Trading upgraded ON from a "hold" rating to a "buy" rating and increased their target price for the stock from $40.00 to $60.00 in a report on Wednesday, November 13th. Finally, TD Cowen upped their price target on ON from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.05.

ON Trading Down 0.7 %

Shares of NYSE ONON traded down $0.39 during mid-day trading on Wednesday, reaching $59.15. 1,775,447 shares of the company's stock were exchanged, compared to its average volume of 4,877,023. The firm has a market capitalization of $37.24 billion, a price-to-earnings ratio of 138.49 and a beta of 2.30. The business has a fifty day simple moving average of $51.50 and a 200 day simple moving average of $45.27. On Holding AG has a twelve month low of $25.78 and a twelve month high of $59.84.

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.