WT Asset Management Ltd Makes New $7.28 Million Investment in On Holding AG (NYSE:ONON)

WT Asset Management Ltd bought a new stake in On Holding AG (NYSE:ONON - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 132,984 shares of the company's stock, valued at approximately $7,284,000. ON comprises 0.8% of WT Asset Management Ltd's holdings, making the stock its 22nd biggest holding.

A number of other hedge funds also recently bought and sold shares of ONON. Private Trust Co. NA acquired a new stake in ON in the 3rd quarter worth $26,000. Blue Trust Inc. raised its stake in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock valued at $27,000 after purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after purchasing an additional 400 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in ON during the third quarter worth $29,000. Finally, Legacy Bridge LLC acquired a new position in shares of ON in the 4th quarter valued at $43,000. 36.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of ON from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a "buy" rating and issued a $64.00 price target on shares of ON in a research report on Wednesday, January 15th. Bank of America assumed coverage on shares of ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price for the company. Williams Trading upgraded shares of ON from a "hold" rating to a "buy" rating and boosted their price target for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Finally, Raymond James raised shares of ON from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $59.73.

ON Trading Down 5.7 %

Shares of NYSE ONON traded down $3.42 during mid-day trading on Friday, reaching $56.30. 4,643,332 shares of the company's stock were exchanged, compared to its average volume of 3,344,015. The business has a fifty day simple moving average of $57.42 and a 200 day simple moving average of $51.00. On Holding AG has a twelve month low of $27.37 and a twelve month high of $64.05. The firm has a market capitalization of $35.45 billion, a price-to-earnings ratio of 130.93, a PEG ratio of 1.20 and a beta of 2.30.

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.