MidAtlantic Capital Management Inc. Buys New Shares in On Holding AG (NYSE:ONON)

MidAtlantic Capital Management Inc. purchased a new position in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 582 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL purchased a new stake in shares of ON in the 1st quarter valued at $502,000. Vanguard Group Inc. boosted its position in ON by 4.0% during the first quarter. Vanguard Group Inc. now owns 203,025 shares of the company’s stock valued at $7,183,000 after buying an additional 7,874 shares during the period. Acadian Asset Management LLC bought a new position in shares of ON during the first quarter valued at about $8,094,000. Boulder Hill Capital Management LP increased its holdings in shares of ON by 52.8% in the first quarter. Boulder Hill Capital Management LP now owns 112,800 shares of the company’s stock worth $3,991,000 after buying an additional 39,000 shares during the period. Finally, BOKF NA bought a new stake in shares of ON in the 1st quarter valued at about $4,721,000. Institutional investors own 33.11% of the company’s stock.

ON Stock Performance

Shares of NYSE ONON opened at $51.48 on Tuesday. The company has a 50 day simple moving average of $49.56 and a two-hundred day simple moving average of $43.34. On Holding AG has a fifty-two week low of $25.78 and a fifty-two week high of $56.44. The company has a market capitalization of $32.41 billion, a price-to-earnings ratio of 119.72 and a beta of 2.25.

Analyst Ratings Changes

Several equities analysts recently issued reports on ONON shares. Raymond James began coverage on ON in a research report on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price target on the stock. Stifel Nicolaus upped their price target on shares of ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 price target on shares of ON in a report on Tuesday, November 12th. Morgan Stanley upped their price objective on shares of ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, UBS Group increased their target price on shares of ON from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

ON Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.