Moran Wealth Management LLC Has $4.55 Million Stake in On Holding AG $ONON

Key Points

• Moran Wealth Management increased its stake in On Holding AG by 1,785.7% in the first quarter, ending with 133,788 shares valued at about $4.55 million.
• Analysts remain generally positive on ONON, with several firms reiterating or assigning buy/overweight ratings and a consensus price target of $53.79.
• On Holding reported stronger-than-expected quarterly results, posting $0.46 EPS versus $0.35 expected and $1.04 billion in revenue, while shares were trading around $36.81 after a small decline.

Moran Wealth Management LLC grew its holdings in On Holding AG (NYSE:ONON - Free Report) by 1,785.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,788 shares of the company's stock after acquiring an additional 126,693 shares during the quarter. Moran Wealth Management LLC's holdings in ON were worth $4,551,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ONON. Prasad Wealth Partners LLC grew its position in shares of ON by 1.1% in the 1st quarter. Prasad Wealth Partners LLC now owns 38,455 shares of the company's stock valued at $1,308,000 after purchasing an additional 422 shares during the period. Capricorn Fund Managers Ltd acquired a new stake in ON during the 1st quarter worth approximately $4,748,000. Peregrine Capital Management LLC lifted its stake in ON by 5.9% in the first quarter. Peregrine Capital Management LLC now owns 296,861 shares of the company's stock valued at $10,099,000 after buying an additional 16,440 shares in the last quarter. APEIRON CAPITAL Ltd lifted its stake 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 buying an additional 200,200 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of ON by 13.0% in the first quarter. Wasatch Advisors LP now owns 196,030 shares of the company's stock valued at $6,669,000 after buying an additional 22,597 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Guggenheim reissued a "buy" rating and set a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. JPMorgan Chase & Co. assumed coverage on shares of ON in a research note on Thursday. They issued an "overweight" rating and a $51.00 target price for the company. Weiss Ratings upgraded ON from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Barclays dropped their price target on ON from $57.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Finally, Raymond James Financial upgraded ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 price target on the stock in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, ON presently has an average rating of "Moderate Buy" and a consensus price target of $53.79.

Insider Buying and Selling

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer owned 1,385,099 shares of the company's stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann acquired 60,000 shares of the company's stock in a transaction dated 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 purchase, the chief executive officer owned 2,841,108 shares in the company, valued at approximately $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. Over the last ninety days, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 16,600 shares worth $580,710. Corporate insiders own 68.57% of the company's stock.

ON Stock Down 0.1%

Shares of ONON stock opened at $36.81 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. On Holding AG has a 1 year low of $31.41 and a 1 year high of $54.72. The firm's fifty day moving average price is $37.22 and its two-hundred day moving average price is $40.81. The firm has a market capitalization of $23.49 billion, a P/E ratio of 39.58, a PEG ratio of 0.68 and a beta of 2.12.

ON (NYSE:ONON - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.11. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The company's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. On average, equities analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

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.

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