WINTON GROUP Ltd Purchases New Position in On Holding AG $ONON

WINTON GROUP Ltd acquired a new position in On Holding AG (NYSE:ONON) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 108,681 shares of the company’s stock, valued at approximately $4,603,000.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised 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 acquiring an additional 1,060 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of ON in the third quarter worth $66,000. Resona Asset Management Co. Ltd. purchased a new position in shares of ON in the second quarter valued at $83,000. CWM LLC grew its position in shares of ON by 119.8% in the third quarter. CWM LLC now owns 2,789 shares of the company’s stock valued at $118,000 after purchasing an additional 1,520 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC raised its stake in shares of ON by 660.0% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 3,040 shares of the company’s stock valued at $129,000 after purchasing an additional 2,640 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

NYSE:ONON opened at $41.29 on Tuesday. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29. The stock has a fifty day moving average of $45.95 and a 200 day moving average of $44.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The firm has a market capitalization of $25.93 billion, a price-to-earnings ratio of 57.35, a P/E/G ratio of 0.79 and a beta of 2.14.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ONON shares. Morgan Stanley increased their price objective on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Guggenheim reduced their target price on ON from $59.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. BTIG Research reissued a “buy” rating and issued a $70.00 price target on shares of ON in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Thursday, January 22nd. Finally, Evercore set a $58.00 price objective on shares of ON and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, ON has an average rating of “Moderate Buy” and an average target price of $59.41.

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.