Anomaly Capital Management LP Has $12 Million Stock Holdings in On Holding AG (NYSE:ONON)

Anomaly Capital Management LP decreased its position in On Holding AG (NYSE:ONON) by 89.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,169 shares of the company’s stock after selling 1,947,762 shares during the quarter. Anomaly Capital Management LP’s holdings in ON were worth $12,004,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Strategic Financial Concepts LLC bought a new stake in ON during the fourth quarter worth approximately $30,000. Legacy Bridge LLC acquired a new position in ON in the 4th quarter valued at $43,000. Bernard Wealth Management Corp. bought a new position in ON in the 4th quarter worth $44,000. Arcadia Investment Management Corp MI acquired a new position in ON during the 4th quarter worth $53,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of ON in the fourth quarter valued at about $65,000. Institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ONON shares. UBS Group increased their target price on ON from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Piper Sandler decreased their price objective on ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, April 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 research report on Tuesday, March 11th. Finally, Jefferies Financial Group assumed coverage on shares of ON in a research note on Tuesday, April 1st. They issued a “hold” rating and a $44.00 target price on the stock. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

ON Price Performance

Shares of NYSE ONON opened at $41.30 on Tuesday. The stock has a market capitalization of $26.00 billion, a P/E ratio of 96.05, a PEG ratio of 1.02 and a beta of 2.32. The firm’s 50 day simple moving average is $46.03 and its two-hundred day simple moving average is $51.68. On Holding AG has a one year low of $29.84 and a one year 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.