Militia Capital Management LLC Acquires Shares of 40,800 On Holding AG $ONON

Militia Capital Management LLC acquired a new stake in shares of On Holding AG (NYSE:ONON - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,800 shares of the company's stock, valued at approximately $1,388,000.

A number of other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of ON by 54.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company's stock valued at $8,320,000 after buying an additional 62,500 shares during the last quarter. Robinhood Asset Management LLC acquired a new stake in shares of ON in the 4th quarter worth about $4,747,000. One Capital Management LLC acquired a new stake in shares of ON in the 4th quarter worth about $8,887,000. RFG Advisory LLC bought a new position in ON in the 4th quarter valued at about $1,343,000. Finally, Norges Bank bought a new position in ON in the 4th quarter valued at about $128,826,000. 36.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, 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 price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the acquisition, the chief executive officer owned 2,841,108 shares of the company's stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olivier Bernhard bought 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the transaction, the insider directly owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 180,000 shares of company stock valued at $6,594,000 in the last ninety days.

ON Trading Up 0.3%

NYSE:ONON opened at $36.34 on Monday. On Holding AG has a 52 week low of $31.41 and a 52 week high of $52.20. The firm has a 50-day moving average price of $37.56 and a two-hundred day moving average price of $39.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 0.68 and a beta of 2.12.

ON (NYSE:ONON - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.21 earnings per share. ON's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts expect that On Holding AG will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ONON shares. Guggenheim reissued a "buy" rating and set a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Wall Street Zen lowered ON from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Truist Financial cut 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. Barclays decreased their price target on ON from $57.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. began coverage on ON in a research report on Thursday, July 2nd. They issued an "overweight" rating and a $51.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.63.

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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