Landscape Capital Management L.L.C. Sells 36,470 Shares of On Holding AG $ONON

Key Points

• Landscape Capital Management cut its ON Holding position by 46.7% in the fourth quarter, selling 36,470 shares and ending with 41,621 shares valued at about $1.94 million.
• Insider activity was mixed: CEO Martin Hoffmann sold 4,150 shares in late April, while CEO David Michael Allemann bought 60,000 shares in mid-May as part of broader insider buying during the quarter.
• ON Holding beat earnings expectations in its latest quarter, reporting $0.46 EPS on $1.04 billion in revenue, while analysts maintain a consensus Moderate Buy rating with a $55.05 target price.

Landscape Capital Management L.L.C. reduced its position in On Holding AG (NYSE:ONON - Free Report) by 46.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,621 shares of the company's stock after selling 36,470 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in ON were worth $1,935,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Jacobi Capital Management LLC boosted its position in shares of ON by 3.6% in the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company's stock valued at $320,000 after acquiring an additional 240 shares during the period. Parallel Advisors LLC boosted its position in shares of ON by 2.8% in the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company's stock valued at $486,000 after acquiring an additional 285 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of ON by 2.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company's stock valued at $571,000 after acquiring an additional 285 shares during the period. MetLife Investment Management LLC boosted its position in shares of ON by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 14,411 shares of the company's stock valued at $670,000 after acquiring an additional 308 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of ON by 0.3% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 110,637 shares of the company's stock valued at $5,142,000 after acquiring an additional 318 shares during the period. 36.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ON

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

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of analyst reports. Guggenheim restated a "buy" rating and issued a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. BTIG Research reiterated a "buy" rating and set a $70.00 target price on shares of ON in a research report on Tuesday, March 3rd. KeyCorp dropped their target price 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. Raymond James Financial upgraded shares of ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 target price for the company in a research report on Thursday, April 23rd. Finally, Zacks Research lowered shares of ON from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.05.

ON Trading Up 0.2%

ONON stock opened at $38.66 on Tuesday. The company has a market capitalization of $24.67 billion, a PE ratio of 41.57, a price-to-earnings-growth ratio of 0.75 and a beta of 2.10. On Holding AG has a one year low of $31.41 and a one year high of $55.95. The company's 50 day moving average price is $36.69 and its two-hundred day moving average price is $41.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONON - Get Free Report) last issued its 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. ON had a net margin of 7.92% and a return on equity of 15.72%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts predict that On Holding AG will post 1.47 earnings per share for the current fiscal 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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