On Holding AG $ONON Stock: Arnhold LLC Grows Stake

Key Points

• Arnhold LLC increased its On Holding stake by 19% in the third quarter, bringing its holdings to 465,100 shares valued at approximately $13.8 million. Institutional investors and hedge funds collectively own 36.39% of the company.
• On Holding shares were recently trading at $33.14, up 1.9%, but the company’s latest quarterly results missed expectations, with earnings per share of $0.35 versus the $0.42 consensus and revenue of $1.05 billion versus $1.09 billion expected.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and average price target of $43.48. Company insiders Olivier Bernhard and CEO Caspar Coppetti each purchased 65,000 shares at $30.67 per share.

Arnhold LLC raised its position in On Holding AG (NYSE:ONON - Free Report) by 19.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,100 shares of the company's stock after buying an additional 74,200 shares during the quarter. Arnhold LLC owned 0.07% of ON worth $13,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in ON by 69.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock worth $26,000 after purchasing an additional 312 shares in the last quarter. Ascentis Independent Advisors bought a new position in shares of ON during the first quarter worth approximately $34,000. Guardian Partners Inc. acquired a new stake in shares of ON in the third quarter valued at approximately $41,000. Signaturefd LLC raised its position in shares of ON by 29.5% in the third quarter. Signaturefd LLC now owns 1,598 shares of the company's stock valued at $47,000 after buying an additional 364 shares in the last quarter. Finally, State of Wyoming raised its position in shares of ON by 132.6% in the first quarter. State of Wyoming now owns 4,508 shares of the company's stock valued at $153,000 after buying an additional 2,570 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Up 1.9%

Shares of NYSE:ONON opened at $33.14 on Tuesday. On Holding AG has a 52-week low of $26.36 and a 52-week high of $51.08. The company has a market capitalization of $21.15 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 0.64 and a beta of 2.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. The company has a fifty day moving average of $30.58 and a 200-day moving average of $37.06.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ONON. Williams Trading set a $32.00 price target on ON in a research report on Tuesday, August 11th. Zacks Research raised ON from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Telsey Advisory Group cut their target price on ON from $51.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, August 12th. Barclays increased their target price on ON from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, September 24th. Finally, Citigroup restated a "buy" rating on shares of ON in a research report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.48.

Insider Buying and Selling at ON

In other news, insider Olivier Bernhard acquired 65,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was purchased at an average price 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 $160,348,403.28. The trade was a 1.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Caspar Coppetti acquired 65,000 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the acquisition, the chief executive officer owned 2,440,855 shares of the company's stock, valued at approximately $74,861,022.85. The trade was a 2.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

ON Company 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.

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