Interval Partners LP Purchases New Shares in On Holding AG $ONON

Interval Partners LP purchased a new position in On Holding AG (NYSE:ONON) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 796,729 shares of the company’s stock, valued at approximately $33,741,000. Interval Partners LP owned approximately 0.13% of ON at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Winslow Capital Management LLC purchased a new stake in ON during the second quarter valued at about $248,113,000. Sands Capital Management LLC purchased a new position in shares of ON in the second quarter worth approximately $240,177,000. Norges Bank purchased a new position in shares of ON in the second quarter worth approximately $138,641,000. Ameriprise Financial Inc. raised its holdings in shares of ON by 4,564.3% during the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after acquiring an additional 2,242,480 shares during the period. Finally, State Street Corp lifted its position in shares of ON by 765.4% in the 2nd quarter. State Street Corp now owns 2,219,015 shares of the company’s stock valued at $115,500,000 after acquiring an additional 1,962,586 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Williams Trading cut shares of ON from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $55.00 to $47.00 in a research report on Thursday, January 8th. KeyCorp reissued an “overweight” rating on shares of ON in a research report on Wednesday, March 4th. Zacks Research lowered ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS Group reaffirmed a “buy” rating on shares of ON in a research report on Thursday, February 19th. Finally, Truist Financial reduced their target price on shares of ON from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.48.

ON Stock Up 0.0%

Shares of ONON stock opened at $37.97 on Friday. The stock’s 50 day simple moving average is $45.33 and its 200 day simple moving average is $44.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. On Holding AG has a twelve month low of $34.38 and a twelve month high of $61.29. The company has a market capitalization of $23.84 billion, a price-to-earnings ratio of 52.74, a PEG ratio of 0.74 and a beta of 2.14.

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.