Penserra Capital Management LLC Purchases 5,000 Shares of On Holding AG (NYSE:ONON)

Penserra Capital Management LLC lifted its position in shares of On Holding AG (NYSE:ONON) by 17.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,801 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Penserra Capital Management LLC’s holdings in ON were worth $1,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in ON by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after acquiring an additional 14,674 shares during the period. 1832 Asset Management L.P. lifted its position in shares of ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after purchasing an additional 2,406,200 shares during the period. Acadian Asset Management LLC boosted its stake in shares of ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after purchasing an additional 1,315,006 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in ON by 100.7% during 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 buying an additional 642,894 shares during the period. Finally, Fred Alger Management LLC raised its stake in ON by 22.8% in the second quarter. Fred Alger Management LLC now owns 1,152,941 shares of the company’s stock worth $44,734,000 after buying an additional 213,815 shares in the last quarter. Institutional investors own 33.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ONON. Hsbc Global Res raised ON to a “hold” rating in a research report on Thursday, September 5th. KeyCorp lifted their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Williams Trading raised shares of ON from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. Finally, HSBC assumed coverage on shares of ON in a research report on Thursday, September 5th. They set a “hold” rating and a $52.00 target price for the company. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average target price of $56.05.

ON Trading Up 0.7 %

Shares of NYSE:ONON opened at $58.51 on Tuesday. On Holding AG has a twelve month low of $25.78 and a twelve month high of $59.19. The company has a market cap of $36.84 billion, a PE ratio of 135.96 and a beta of 2.25. The company’s 50 day moving average is $50.34 and its 200 day moving average is $44.08.

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.