Investment House LLC Makes New Investment in On Holding AG $ONON

Key Points

• Investment House LLC acquired 107,874 shares of On Holding during the third quarter, worth approximately $3.2 million. Institutional investors collectively own 36.39% of the company.
• On Holding’s latest quarterly results missed expectations, with EPS of $0.35 versus the $0.42 consensus and revenue of $1.05 billion versus estimates of $1.09 billion, despite 13.5% year-over-year revenue growth.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $43.48 versus the reported share price of $34.04. CEO Caspar Coppetti and insider Olivier Bernhard each bought 65,000 shares.

Investment House LLC acquired a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 107,874 shares of the company's stock, valued at approximately $3,194,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ONON. Wellington Management Group LLP lifted its position in shares of ON by 2.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,751,615 shares of the company's stock worth $97,462,000 after buying an additional 62,404 shares during the last quarter. Quantinno Capital Management LP grew its position in ON by 89.6% in the first quarter. Quantinno Capital Management LP now owns 66,947 shares of the company's stock valued at $2,278,000 after acquiring an additional 31,641 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in ON in the first quarter valued at about $5,694,000. APEIRON CAPITAL Ltd grew its position in ON by 25.2% in the first quarter. APEIRON CAPITAL Ltd now owns 996,052 shares of the company's stock valued at $33,886,000 after acquiring an additional 200,200 shares during the last quarter. Finally, B.A. Schrock Wealth Management Inc. acquired a new position in ON during the third quarter worth about $3,991,000. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Stock Performance

ON stock opened at $34.04 on Friday. The business has a 50 day moving average of $30.47 and a 200-day moving average of $34.54. On Holding AG has a 1 year low of $26.36 and a 1 year high of $51.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. The company has a market capitalization of $21.72 billion, a P/E ratio of 23.16, a P/E/G ratio of 0.68 and a beta of 2.08.

ON (NYSE:ONON - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a return on equity of 22.92% and a net margin of 12.09%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The firm's quarterly revenue was up 13.5% on a year-over-year basis. On average, equities research analysts predict that On Holding AG will post 1.50 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on ONON. Telsey Advisory Group dropped their target price on shares of ON from $51.00 to $43.00 and set an "outperform" rating for the company in a report on Wednesday, August 12th. Citigroup reaffirmed a "buy" rating on shares of ON in a report on Wednesday, September 23rd. Evercore set a $40.00 price objective on shares of ON in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of ON from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, Berenberg Bank set a $38.00 target price on shares of ON in a research report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.48.

Insiders Place Their Bets

In related news, CEO Caspar Coppetti bought 65,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the chief executive officer directly owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Olivier Bernhard bought 65,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the acquisition, the insider directly owned 5,228,184 shares in the company, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 68.57% of the stock is currently owned by insiders.

ON Profile

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.

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.