A significant shift in institutional investment strategies has come to light with XTX Topco Ltd’s recent substantial increase in its equity holdings of On Holding AG, signaling heightened interest in the sportswear company’s market performance.
According to its latest Form 13F filing with the Securities and Exchange Commission, XTX Topco Ltd dramatically raised its position in On Holding AG (NYSE:ONON) by an impressive 126.4% during the first quarter. This aggressive investment strategy saw the equity firm acquire an additional 13,676 shares, bringing its total ownership to 24,493 shares, valued at a considerable $1,076,000 by the end of the most recent quarter.
This surge in institutional investor confidence in On Holding AG is not an isolated event, as numerous other firms have also adjusted their positions. Banque Cantonale Vaudoise, for instance, established a new stake worth approximately $2,997,000 in the first quarter. Concurrently, Federated Hermes Inc. substantially boosted its holdings by 9.1% during the same period, now owning 1,395,163 shares valued at $61,276,000 after purchasing an additional 116,759 shares.
Further underscoring the strong interest, TCTC Holdings LLC demonstrated remarkable growth by increasing its stake in ONON by 118.4%, adding 315 shares to reach 581 shares, valued at $26,000. Ramirez Asset Management Inc. also entered the fray with a new stake worth $44,000. Meanwhile, Foundations Investment Advisors LLC expanded its equity holdings by 22.0%, now possessing 5,276 shares valued at $232,000 after acquiring an additional 950 shares.
Collectively, these movements highlight a robust appetite among institutional entities for On Holding AG’s stock market presence, with hedge funds and other institutional investors now collectively owning 36.39% of the company’s share price.
Examining On Holding AG’s recent market analysis reveals a share price that opened at $47.08 on Friday. The company commands a significant market capitalization of $29.64 billion, reflecting its substantial industry footprint. Key financial metrics include a PE ratio of 67.26 and a price-to-earnings-growth ratio of 2.64, with a beta of 2.24 indicating its volatility relative to the broader market.
Further insights into the company’s financial health include a quick ratio of 2.18, a current ratio of 2.80, and a healthy debt-to-equity ratio of 0.19, suggesting strong liquidity and manageable leverage. The stock market performance over the past year has seen a 52-week low of $34.59 and a 52-week high of $64.05, demonstrating considerable price fluctuation.
With its fifty-day simple moving average at $53.86 and its 200-day simple moving average at $51.48, ONON’s share price trajectory continues to be closely watched by investors. On Holding AG, at its core, specializes in the development and global distribution of high-performance sports products, including footwear, apparel, and accessories, serving diverse activities from running to tennis through various sales channels.
