Legacy Bridge LLC Makes New $43,000 Investment in On Holding AG (NYSE:ONON)

Legacy Bridge LLC acquired a new stake in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 780 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Trust Co. NA acquired a new position in shares of ON during the third quarter worth about $26,000. Blue Trust Inc. lifted its stake in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the third quarter valued at approximately $29,000. Finally, Quarry LP acquired a new position in ON during the second quarter worth $32,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON opened at $59.84 on Tuesday. On Holding AG has a 52-week low of $26.10 and a 52-week high of $60.99. The firm has a market cap of $37.68 billion, a price-to-earnings ratio of 139.18, a PEG ratio of 1.19 and a beta of 2.30. The business’s fifty day moving average is $56.85 and its 200-day moving average is $49.85.

Analysts Set New Price Targets

Several analysts recently issued reports on ONON shares. Bank of America began coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of ON in a research note on Wednesday, January 15th. TD Cowen upped their price target on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Robert W. Baird lifted their price objective on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Truist Financial upped their target price on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four 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 has an average rating of “Moderate Buy” and a consensus price target of $59.73.

ON Company 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.