Keystone Investors PTE Ltd. Invests $5.30 Million in On Holding AG $ONON

Keystone Investors PTE Ltd. purchased a new stake in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 125,024 shares of the company’s stock, valued at approximately $5,295,000.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in ON by 5,888.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after buying an additional 1,060 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of ON in the third quarter valued at approximately $66,000. Resona Asset Management Co. Ltd. purchased a new position in ON during the second quarter valued at approximately $83,000. CWM LLC increased its holdings in ON by 119.8% during the 3rd quarter. CWM LLC now owns 2,789 shares of the company’s stock worth $118,000 after acquiring an additional 1,520 shares during the period. Finally, MeadowBrook Investment Advisors LLC lifted its stake in ON by 660.0% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 3,040 shares of the company’s stock worth $129,000 after purchasing an additional 2,640 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ONON shares. Bank of America boosted their price target on shares of ON from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. BTIG Research restated a “buy” rating and issued a $70.00 target price on shares of ON in a research note on Thursday, January 29th. Barclays lowered their price target on ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. KeyCorp decreased their price objective on shares of ON from $68.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Finally, Guggenheim raised shares of ON to a “strong-buy” rating in a research note on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

ON Price Performance

Shares of ON stock opened at $46.50 on Friday. The firm has a market capitalization of $29.20 billion, a PE ratio of 60.39, a price-to-earnings-growth ratio of 1.43 and a beta of 2.15. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. On Holding AG has a 12 month low of $34.38 and a 12 month high of $61.29. The business’s 50-day moving average price is $46.41 and its 200-day moving average price is $44.48.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.