Tremblant Capital Group Takes $15.15 Million Position in On Holding AG (NYSE:ONON)

Tremblant Capital Group bought a new position in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 276,571 shares of the company’s stock, valued at approximately $15,148,000. ON makes up approximately 1.6% of Tremblant Capital Group’s investment portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Norges Bank acquired a new position in shares of ON in the 4th quarter worth approximately $164,574,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of ON in the 4th quarter worth approximately $78,799,000. Axiom Investors LLC DE acquired a new position in shares of ON in the 4th quarter worth approximately $39,320,000. BNP Paribas Financial Markets acquired a new position in shares of ON in the 4th quarter worth approximately $39,119,000. Finally, Raymond James Financial Inc. acquired a new position in shares of ON in the 4th quarter worth approximately $28,575,000. Institutional investors own 36.39% of the company’s stock.

ON Stock Performance

ONON stock opened at $59.79 on Monday. The stock has a market cap of $37.64 billion, a P/E ratio of 139.04, a P/E/G ratio of 1.02 and a beta of 2.30. The firm has a 50 day simple moving average of $46.16 and a 200 day simple moving average of $51.75. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05.

Analyst Ratings Changes

ONON has been the topic of several recent research reports. Needham & Company LLC lifted their price objective on shares of ON from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Hsbc Global Res raised shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Cowen reaffirmed a “buy” rating on shares of ON in a research note on Wednesday. Citigroup raised shares of ON from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $65.00 to $60.00 in a research note on Monday, April 28th. Finally, UBS Group raised their target price on shares of ON from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $61.73.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.