191,199 Shares in On Holding AG $ONON Purchased by One Capital Management LLC

Key Points

• One Capital Management LLC opened a new position in On Holding AG, buying 191,199 shares valued at about $8.9 million in the fourth quarter.
• Institutional interest remains active, with several funds adding to or initiating stakes, and institutions/hedge funds now own 36.39% of the company.
• On reported stronger-than-expected quarterly results, including $0.46 EPS versus $0.35 expected and revenue of $1.04 billion, while analysts maintain an average Moderate Buy rating and a $55.05 price target.

One Capital Management LLC purchased a new position in On Holding AG (NYSE:ONON - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 191,199 shares of the company's stock, valued at approximately $8,887,000.

Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. increased its holdings in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock valued at $25,000 after buying an additional 467 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON in the fourth quarter valued at about $27,000. TD Private Client Wealth LLC increased its holdings in ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company's stock valued at $37,000 after buying an additional 421 shares during the last quarter. Bogart Wealth LLC increased its holdings in ON by 88.9% in the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company's stock valued at $40,000 after buying an additional 400 shares during the last quarter. Finally, United Financial Planning Group LLC bought a new stake in ON in the third quarter valued at about $42,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Insiders Place Their Bets

In related news, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the transaction, the chief executive officer directly owned 1,385,099 shares of the company's stock, valued at $49,641,948.16. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann acquired 60,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838.

Analyst Ratings Changes

Several brokerages recently weighed in on ONON. Stifel Nicolaus set a $58.00 price objective on ON in a report on Tuesday, March 3rd. Guggenheim reissued a "buy" rating and issued a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Evercore set a $42.00 price objective on ON in a report on Tuesday, May 12th. Sanford C. Bernstein reissued an "outperform" rating on shares of ON in a report on Wednesday, March 4th. Finally, UBS Group reissued a "buy" rating on shares of ON in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ON presently has an average rating of "Moderate Buy" and an average price target of $55.05.

ON Stock Down 2.7%

NYSE:ONON opened at $39.72 on Tuesday. The firm has a market capitalization of $25.34 billion, a PE ratio of 42.71, a price-to-earnings-growth ratio of 0.84 and a beta of 2.10. The stock has a 50 day moving average of $36.10 and a 200-day moving average of $41.99. On Holding AG has a 52 week low of $31.41 and a 52 week high of $59.36. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26.

ON (NYSE:ONON - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The business's revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. Analysts predict that On Holding AG will post 1.39 EPS for the current year.

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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