Quantinno Capital Management LP Buys 31,641 Shares of On Holding AG $ONON

Key Points

• Quantinno Capital Management increased its On Holding stake by 89.6% in the first quarter, adding 31,641 shares to hold 66,947 shares valued at approximately $2.28 million. Institutional investors collectively own 36.39% of ONON.
• On Holding reported quarterly EPS of $0.46, beating estimates by $0.11, while revenue rose 14.5% year over year to $1.04 billion. Shares opened at $38.79, within a 52-week range of $31.41 to $52.20.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $53.84. Insiders also bought 180,000 shares worth $6.59 million over the past 90 days, including purchases by the CEO and co-founder Olivier Bernhard.

Quantinno Capital Management LP increased its stake in On Holding AG (NYSE:ONON - Free Report) by 89.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,947 shares of the company's stock after acquiring an additional 31,641 shares during the quarter. Quantinno Capital Management LP's holdings in ON were worth $2,278,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Bison Wealth LLC lifted its position in shares of ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock worth $509,000 after purchasing an additional 2,442 shares during the period. Prudential Financial Inc. bought a new position in ON during the second quarter worth $517,000. Invesco Ltd. raised its stake in ON by 305.5% during the second quarter. Invesco Ltd. now owns 157,281 shares of the company's stock worth $8,186,000 after buying an additional 118,498 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in ON by 13.5% in the second quarter. Cresset Asset Management LLC now owns 7,232 shares of the company's stock valued at $376,000 after buying an additional 860 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in ON by 91.7% in the second quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company's stock valued at $139,000 after buying an additional 1,273 shares during the period. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

Shares of ONON opened at $38.79 on Tuesday. On Holding AG has a one year low of $31.41 and a one year high of $52.20. The company has a market cap of $24.75 billion, a PE ratio of 41.71, a P/E/G ratio of 0.69 and a beta of 2.12. The stock has a 50-day moving average of $37.31 and a 200-day moving average of $38.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

ON (NYSE:ONON - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The business's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. On average, equities research analysts predict that On Holding AG will post 1.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on ONON shares. Needham & Company LLC decreased their price target on ON from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on ON in a research note on Thursday, July 2nd. They issued an "overweight" rating and a $51.00 price objective on the stock. KeyCorp restated an "overweight" rating on shares of ON in a research report on Monday. Truist Financial decreased their target price on ON from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. Finally, UBS Group lowered their target price on ON from $85.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, July 29th. Two investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.84.

Insider Buying and Selling

In other news, insider Olivier Bernhard acquired 60,000 shares of the firm's stock in a transaction 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 insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This represents a 1.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Michael Allemann bought 60,000 shares of the company's stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, 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 bought 180,000 shares of company stock worth $6,594,000.

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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