Arcadia Investment Management Corp MI Takes Position in On Holding AG (NYSE:ONON)

Arcadia Investment Management Corp MI purchased a new position in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 968 shares of the company’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning boosted its position in ON by 6.6% during the third quarter. Creative Planning now owns 18,779 shares of the company’s stock worth $942,000 after purchasing an additional 1,160 shares in the last quarter. Blue Trust Inc. boosted its position in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. Raymond James & Associates grew its stake in ON by 23.4% in the 3rd quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock valued at $12,875,000 after acquiring an additional 48,600 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in ON in the 3rd quarter valued at about $219,000. Finally, International Assets Investment Management LLC purchased a new position in ON during the 3rd quarter valued at about $699,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America started coverage on shares of ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. KeyCorp increased their target price on ON from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of ON in a report on Wednesday, January 15th. Robert W. Baird upped their price objective on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, UBS Group reiterated a “buy” rating and set a $63.00 price objective on shares of ON in a research report on Friday, December 27th. Five equities research 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 stock. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and an average target price of $59.73.

ON Stock Down 5.8 %

NYSE:ONON opened at $48.23 on Friday. The company has a market cap of $30.37 billion, a P/E ratio of 112.16, a P/E/G ratio of 1.04 and a beta of 2.30. The firm’s 50 day moving average is $56.37 and its two-hundred day moving average is $51.91. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05.

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.