Guardian Partners Inc. Invests $1.11 Million in On Holding AG (NYSE:ONON)

Guardian Partners Inc. acquired a new stake in On Holding AG (NYSE:ONON) in the fourth quarter, Holdings Channel.com reports. The firm acquired 19,950 shares of the company’s stock, valued at approximately $1,108,000.

A number of other hedge funds have also bought and sold shares of the business. Jennison Associates LLC grew its stake in ON by 27.4% in the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after buying an additional 440,685 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after buying an additional 349,789 shares in the last quarter. Cerity Partners LLC grew its stake in ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after buying an additional 471,323 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after buying an additional 459,157 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ON in the 4th quarter valued at approximately $28,575,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. HSBC raised shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Tuesday, March 11th. Bank of America initiated coverage on shares of ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of ON in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $61.90.

ON Stock Up 1.4 %

Shares of NYSE:ONON opened at $46.22 on Friday. The stock has a market cap of $29.10 billion, a PE ratio of 107.49, a PEG ratio of 1.02 and a beta of 2.35. The company’s fifty day moving average is $53.05 and its 200 day moving average is $52.61. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05.

ON Company Profile

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.