58,739 Shares in On Holding AG $ONON Purchased by Lombard Odier Asset Management Europe Ltd

Key Points

• Lombard Odier Asset Management Europe Ltd opened a new position in On Holding AG, buying 58,739 shares worth about $2.0 million in the first quarter.
• On Holding recently reported better-than-expected quarterly results, with EPS of $0.46 versus the $0.35 consensus and revenue of $1.04 billion, up 14.5% year over year.
• Insiders were active buyers, including the CEO and an insider each purchasing 60,000 shares; analysts currently view the stock as a Moderate Buy with an average price target of $53.79.

Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of On Holding AG (NYSE:ONON - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,739 shares of the company's stock, valued at approximately $1,998,000.

Other large investors have also recently added to or reduced their stakes in the company. Platinum Paramount Investment LTD. acquired a new stake in shares of ON during the 4th quarter worth approximately $525,784,000. Sinvest Investments II Ltd. acquired a new position in shares of ON in the fourth quarter valued at $390,432,000. Morgan Stanley raised its stake in shares of ON by 40.9% in the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company's stock valued at $1,121,092,000 after purchasing an additional 6,997,455 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in ON in the fourth quarter worth $142,425,000. Finally, Norges Bank bought a new position in ON in the fourth quarter worth $128,826,000. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Stock Performance

Shares of NYSE:ONON opened at $35.89 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The business's fifty day moving average price is $37.67 and its two-hundred day moving average price is $39.72. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $52.41. The stock has a market capitalization of $22.90 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 0.67 and a beta of 2.12.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business earned $0.21 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. As a group, analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

Insider Activity

In other news, insider Olivier Bernhard acquired 60,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This represents a 1.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Michael Allemann bought 60,000 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the chief executive officer directly owned 2,841,108 shares of the company's stock, valued at $104,069,786.04. The trade was a 2.16% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 180,000 shares of company stock valued at $6,594,000. Company insiders own 68.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ONON. Needham & Company LLC lowered their price target on shares of ON from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Weiss Ratings raised shares of ON from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Evercore set a $42.00 target price on shares of ON in a research report on Tuesday, May 12th. Raymond James Financial upgraded shares of ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 target price on the stock in a research report on Thursday, April 23rd. Finally, KeyCorp dropped their price target on shares of ON from $58.00 to $43.00 and set an "overweight" rating for the company 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ON has a consensus rating of "Moderate Buy" and an average target price of $53.79.

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.

Want to see what other hedge funds are holding ONON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for On Holding AG (NYSE:ONON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.