Dymon Asia Capital Singapore PTE. LTD. Trims Stock Holdings in On Holding AG $ONON

Key Points

• Dymon Asia Capital Singapore PTE. LTD. cut its stake in On Holding AG by 55.6% in the fourth quarter, selling nearly 50,000 shares and ending with 40,000 shares worth about $1.86 million.
• Analysts have turned more cautious on ONON, with several firms trimming price targets, though the stock still carries a Moderate Buy consensus and an average target price of $55.05.
• On Holding reported strong quarterly results, beating EPS and revenue estimates, while insiders including the CEO and Olivier Bernhard recently bought shares, signaling continued confidence in the company.

Dymon Asia Capital Singapore PTE. LTD. reduced its stake in On Holding AG (NYSE:ONON - Free Report) by 55.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,000 shares of the company's stock after selling 49,996 shares during the quarter. Dymon Asia Capital Singapore PTE. LTD.'s holdings in ON were worth $1,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ONON. Cullen Frost Bankers Inc. lifted its position in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock worth $25,000 after buying an additional 467 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in ON during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its position in ON by 555.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock worth $33,000 after buying an additional 594 shares during the period. TD Private Client Wealth LLC lifted its position in ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company's stock worth $37,000 after buying an additional 421 shares during the period. Finally, Bogart Wealth LLC lifted its position in ON by 88.9% during the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company's stock worth $40,000 after buying an additional 400 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. KeyCorp reduced their target price on ON from $58.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings upgraded ON from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, May 12th. Truist Financial reduced their target price on ON from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Evercore set a $42.00 target price on ON in a research report on Tuesday, May 12th. Finally, Barclays reduced their target price on ON from $57.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ON currently has an average rating of "Moderate Buy" and a consensus target price of $55.05.

ON Stock Performance

Shares of NYSE:ONON opened at $38.60 on Friday. The firm has a market capitalization of $24.63 billion, a PE ratio of 41.51, a P/E/G ratio of 0.75 and a beta of 2.10. 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 has a 50-day moving average of $36.58 and a two-hundred day moving average of $41.73. On Holding AG has a 12 month low of $31.41 and a 12 month high of $55.95.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping 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 firm's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. As a group, research analysts forecast that On Holding AG will post 1.47 earnings per share for the current year.

Insider Transactions at ON

In other news, CEO Caspar Felix Coppetti purchased 60,000 shares of the company's stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the purchase, the chief executive officer directly owned 2,375,855 shares of the company's stock, valued at $87,051,327.20. The trade was a 2.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Olivier Bernhard bought 60,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $36.63 per share, for a total transaction 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 trade represents a 1.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. 68.57% of the stock is owned by insiders.

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.

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.