Lombard Odier Asset Management Europe Ltd acquired a new position in On Holding AG (NYSE:ONON – Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,739 shares of the company’s stock, valued at approximately $1,998,000.
A number of other hedge funds have also recently modified their holdings of the business. Caitlin John LLC bought a new position in shares of ON in the 4th quarter worth about $25,000. Cullen Frost Bankers Inc. grew its holdings in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of ON during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd increased its stake in shares of ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after purchasing an additional 594 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of ON by 69.6% during the first quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.
Wall Street Analyst Weigh In
ONON has been the topic of a number of analyst reports. Barclays dropped their price target on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Evercore set a $42.00 target price on ON in a report on Tuesday, May 12th. Weiss Ratings raised ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Needham & Company LLC reduced their price target on ON from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.
Insider Activity
In related news, CEO Caspar Felix Coppetti acquired 60,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the insider owned 5,163,184 shares in the company, valued at $189,127,429.92. This trade represents a 1.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 180,000 shares of company stock valued at $6,594,000 in the last 90 days.
ON Stock Up 0.3%
ONON stock opened at $36.34 on Monday. The stock has a market capitalization of $23.19 billion, a P/E ratio of 39.07, a P/E/G ratio of 0.68 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. On Holding AG has a 1-year low of $31.41 and a 1-year high of $52.20. The business has a fifty day moving average price of $37.56 and a 200-day moving average price of $39.23.
ON (NYSE:ONON – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $0.21 earnings per share. ON’s revenue was up 14.5% compared to the same quarter last year. Equities analysts forecast that On Holding AG will post 1.5 earnings per share for the current fiscal year.
About ON
On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.
On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.
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