Militia Capital Management LLC acquired a new stake in On Holding AG (NYSE:ONON – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,800 shares of the company’s stock, valued at approximately $1,388,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley boosted its position in ON by 40.9% during the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after acquiring an additional 6,997,455 shares during the last quarter. Platinum Paramount Investment LTD. acquired a new position in ON in the 4th quarter valued at $525,784,000. Sinvest Investments II Ltd. acquired a new position in ON in the 4th quarter valued at $390,432,000. Bamco Inc. NY lifted its stake in shares of ON by 13.9% during the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after purchasing an additional 658,933 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of ON by 44.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after purchasing an additional 1,026,804 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Guggenheim reaffirmed a “buy” rating and issued a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. Wall Street Zen downgraded ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. KeyCorp decreased their price target on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Evercore set a $42.00 price target on ON in a report on Tuesday, May 12th. Finally, Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Thursday, April 23rd. Three equities research 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 given a Sell rating to the company. According to MarketBeat.com, ON has an average rating of “Moderate Buy” and a consensus price target of $53.79.
ON Stock Down 1.5%
Shares of NYSE ONON opened at $36.68 on Thursday. The stock has a market capitalization of $23.40 billion, a PE ratio of 39.44, a P/E/G ratio of 0.69 and a beta of 2.12. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average of $37.74 and a 200-day moving average of $39.83. On Holding AG has a 52-week low of $31.41 and a 52-week high of $52.41.
ON (NYSE:ONON – Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.21 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts anticipate that On Holding AG will post 1.51 EPS for the current year.
Insider Transactions at ON
In other news, insider Olivier Bernhard acquired 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the insider directly owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 180,000 shares of company stock valued at $6,594,000. Insiders own 68.57% of the company’s stock.
ON Profile
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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