Tairen Capital Ltd Buys New Shares in On Holding AG (NYSE:ONON)

Tairen Capital Ltd bought a new stake in On Holding AG (NYSE:ONON) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 170,000 shares of the company’s stock, valued at approximately $9,311,000. ON accounts for 1.4% of Tairen Capital Ltd’s investment portfolio, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Advisors Inc. OK raised its stake in ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after buying an additional 200 shares in the last quarter. Keystone Investors PTE Ltd. raised its stake in ON by 0.8% in the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock valued at $1,639,000 after buying an additional 228 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in ON by 2.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after buying an additional 259 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of ON by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock worth $743,000 after purchasing an additional 323 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of ON by 6.6% during the fourth quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock worth $302,000 after purchasing an additional 341 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of research analyst reports. Hsbc Global Res upgraded ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. KeyCorp boosted their price target on ON from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. Williams Trading boosted their price target on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Telsey Advisory Group restated an “outperform” rating and issued a $65.00 price target on shares of ON in a research report on Tuesday, May 13th. Finally, Morgan Stanley dropped their price target on ON from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $61.73.

ON Price Performance

Shares of NYSE:ONON opened at $59.79 on Friday. The business’s 50 day simple moving average is $46.16 and its 200-day simple moving average is $51.72. The firm has a market capitalization of $37.64 billion, a price-to-earnings ratio of 139.04, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. On Holding AG has a 12 month low of $34.59 and a 12 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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.