Polymer Capital Management HK LTD Purchases 33,355 Shares of On Holding AG (NYSE:ONON)

Polymer Capital Management HK LTD raised its stake in shares of On Holding AG (NYSE:ONON) by 61.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,255 shares of the company’s stock after purchasing an additional 33,355 shares during the period. ON accounts for approximately 0.8% of Polymer Capital Management HK LTD’s holdings, making the stock its 28th biggest position. Polymer Capital Management HK LTD’s holdings in ON were worth $4,779,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Apollon Wealth Management LLC boosted its stake in shares of ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock valued at $877,000 after purchasing an additional 6,808 shares during the period. RB Capital Management LLC increased its position in shares of ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after acquiring an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in ON by 34.1% during 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 acquiring an additional 349,789 shares during the period. Strategic Financial Concepts LLC purchased a new stake in ON in the fourth quarter valued at $30,000. Finally, Y Intercept Hong Kong Ltd raised its position in ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after acquiring an additional 71,436 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

Shares of ONON stock opened at $39.56 on Friday. The firm has a market cap of $24.91 billion, a P/E ratio of 92.00, a PEG ratio of 1.02 and a beta of 2.32. The stock’s 50-day moving average is $50.36 and its two-hundred day moving average is $52.40. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, March 11th. Stifel Nicolaus lifted their price objective on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Needham & Company LLC decreased their target price on shares of ON from $64.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Citigroup started coverage on ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price on the stock. Three 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 company’s stock. According to MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average target price of $60.45.

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, 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.