Fullerton Fund Management Co Ltd. Invests $16.01 Million in On Holding AG (NYSE:ONON)

Fullerton Fund Management Co Ltd. purchased a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 292,221 shares of the company’s stock, valued at approximately $16,005,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Diversified Trust Co bought a new position in shares of ON in the fourth quarter worth $995,000. Watts Gwilliam & Co. LLC grew its position in ON by 3.7% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 64,830 shares of the company’s stock worth $3,584,000 after buying an additional 2,330 shares in the last quarter. Tsfg LLC increased its stake in ON by 143.6% in the 4th quarter. Tsfg LLC now owns 3,338 shares of the company’s stock worth $183,000 after acquiring an additional 1,968 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of ON by 19.1% in the 4th quarter. Park Avenue Securities LLC now owns 16,006 shares of the company’s stock valued at $877,000 after acquiring an additional 2,565 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of ON during the 4th quarter valued at about $653,000. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ONON shares. Piper Sandler decreased their price objective on shares of ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Williams Trading increased their price target on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus dropped their price objective on shares of ON from $66.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, April 10th. KeyCorp reduced their target price on ON from $68.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Finally, HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $58.73.

ON Stock Down 0.5 %

NYSE ONON opened at $49.46 on Friday. The firm has a market capitalization of $31.14 billion, a PE ratio of 115.03, a P/E/G ratio of 1.02 and a beta of 2.30. The stock’s 50 day moving average is $45.20 and its 200 day moving average is $51.42. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05.

About ON

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.