Headlands Technologies LLC Buys 34,184 Shares of On Holding AG $ONON

Headlands Technologies LLC lifted its position in On Holding AG (NYSE:ONON) by 551.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 40,380 shares of the company’s stock after purchasing an additional 34,184 shares during the period. Headlands Technologies LLC’s holdings in ON were worth $2,102,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its position in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after buying an additional 2,416,534 shares during the period. Winslow Capital Management LLC bought a new position in shares of ON during the second quarter valued at about $248,113,000. Sands Capital Management LLC purchased a new stake in shares of ON during the second quarter worth about $240,177,000. Bamco Inc. NY grew its stake in shares of ON by 3.3% in the second quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock worth $215,486,000 after purchasing an additional 132,756 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of ON by 29.4% in the second quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock worth $192,198,000 after purchasing an additional 839,754 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ONON. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research report on Friday, December 5th. Jefferies Financial Group reissued an “underperform” rating and set a $31.00 target price on shares of ON in a research note on Wednesday, November 12th. Citigroup downgraded ON from a “buy” rating to a “mixed” rating in a report on Tuesday, October 28th. Bank of America raised their price target on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Evercore ISI reduced their price objective on shares of ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $61.27.

ON Trading Down 1.5%

ONON opened at $48.73 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. On Holding AG has a 52 week low of $34.38 and a 52 week high of $64.05. The stock has a market cap of $30.60 billion, a PE ratio of 63.29, a PEG ratio of 2.89 and a beta of 2.16. The business has a 50 day moving average of $42.08 and a 200-day moving average of $46.82.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.