Y.D. More Investments Ltd Buys 10,650 Shares of On Holding AG $ONON

Y.D. More Investments Ltd raised its stake in On Holding AG (NYSE:ONON) by 20.5% during the third quarter, HoldingsChannel.com reports. The fund owned 62,550 shares of the company’s stock after purchasing an additional 10,650 shares during the quarter. Y.D. More Investments Ltd’s holdings in ON were worth $2,649,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ONON. Norges Bank purchased a new stake in shares of ON in the second quarter worth about $138,641,000. Bessemer Group Inc. bought a new stake in ON in the 2nd quarter worth approximately $43,344,000. Great Point Wealth Advisors LLC purchased a new stake in shares of ON during the 3rd quarter worth approximately $1,607,000. Allianz Asset Management GmbH purchased a new position in shares of ON in the second quarter valued at $3,321,000. Finally, Hantz Financial Services Inc. increased its position in ON by 102.5% in the second quarter. Hantz Financial Services Inc. now owns 38,978 shares of the company’s stock worth $2,029,000 after purchasing an additional 19,730 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONON. Citigroup cut shares of ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. Guggenheim upgraded ON to a “strong-buy” rating in a research report on Wednesday, December 10th. The Goldman Sachs Group lifted their price objective on shares of ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Evercore reduced their target price on shares of ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price target on shares of ON in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and an average target price of $59.86.

ON Trading Up 4.5%

ON stock traded up $2.17 during mid-day trading on Friday, hitting $50.19. The company’s stock had a trading volume of 149,751 shares, compared to its average volume of 4,738,811. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The company has a 50 day moving average of $46.52 and a 200-day moving average of $44.44. On Holding AG has a one year low of $34.38 and a one year high of $61.29. The stock has a market cap of $31.52 billion, a PE ratio of 63.11, a P/E/G ratio of 1.42 and a beta of 2.15.

About ON

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.