Varma Mutual Pension Insurance Co Invests $3.54 Million in On Holding AG (NYSE:ONON)

Varma Mutual Pension Insurance Co purchased a new position in shares of On Holding AG (NYSE:ONONGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $3,538,000.

Other hedge funds have also made changes to their positions in the company. Renaissance Capital LLC lifted its position in shares of ON by 18.1% during the second quarter. Renaissance Capital LLC now owns 13,288 shares of the company’s stock worth $235,000 after purchasing an additional 2,037 shares in the last quarter. Jennison Associates LLC lifted its position in shares of ON by 62.6% during the first quarter. Jennison Associates LLC now owns 937,294 shares of the company’s stock worth $23,657,000 after purchasing an additional 360,922 shares in the last quarter. Hodges Capital Management Inc. lifted its position in shares of ON by 33.9% during the first quarter. Hodges Capital Management Inc. now owns 518,321 shares of the company’s stock worth $13,082,000 after purchasing an additional 131,189 shares in the last quarter. Whittier Trust Co. acquired a new stake in ON in the second quarter valued at approximately $126,000. Finally, Arnhold LLC acquired a new stake in ON in the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 17.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ONON. William Blair cut shares of ON from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a report on Thursday, November 17th. Morgan Stanley raised their price objective on shares of ON from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. Credit Suisse Group cut their price objective on shares of ON from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, November 17th. BNP Paribas initiated coverage on shares of ON in a report on Wednesday, September 21st. They set an “outperform” rating on the stock. Finally, UBS Group raised their target price on shares of ON from $30.00 to $32.00 in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and a consensus target price of $28.17.

ON Price Performance

ON stock traded up $0.44 during midday trading on Thursday, reaching $18.61. The company’s stock had a trading volume of 2,666,422 shares, compared to its average volume of 2,792,852. On Holding AG has a fifty-two week low of $15.44 and a fifty-two week high of $46.74. The stock’s 50 day simple moving average is $17.43 and its 200 day simple moving average is $19.11.

ON Company Profile

(Get Rating)

On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.

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Institutional Ownership by Quarter for ON (NYSE:ONON)

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