Polymer Capital Management HK LTD Has $2.70 Million Holdings in On Holding AG (NYSE:ONON)

Polymer Capital Management HK LTD lessened its position in shares of On Holding AG (NYSE:ONON) by 22.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 53,900 shares of the company’s stock after selling 15,353 shares during the quarter. Polymer Capital Management HK LTD’s holdings in ON were worth $2,703,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA acquired a new position in ON in the third quarter valued at $26,000. Blue Trust Inc. lifted its position in shares of ON by 319.8% during 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 during the period. MidAtlantic Capital Management Inc. bought a new position in ON during the third quarter worth $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings 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. Finally, Quarry LP bought a new stake in ON in the second quarter valued at $32,000. Institutional investors own 33.11% of the company’s stock.

ON Stock Up 1.7 %

ON stock opened at $59.55 on Wednesday. The company has a market capitalization of $37.50 billion, a P/E ratio of 138.49 and a beta of 2.30. The firm has a 50 day moving average price of $51.50 and a 200-day moving average price of $45.27. On Holding AG has a twelve month low of $25.78 and a twelve month high of $59.84.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ONON. Robert W. Baird raised their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Evercore ISI upgraded ON to an “overweight” rating and boosted their price objective for the company from $43.00 to $47.00 in a report on Monday, August 12th. Barclays boosted their price target on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Needham & Company LLC initiated coverage on shares of ON in a research note on Friday, November 22nd. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $53.00 target price on shares of ON in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.05.

About ON

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.