ING Groep NV Purchases New Shares in On Holding AG $ONON

ING Groep NV purchased a new stake in On Holding AG (NYSE:ONON) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 32,800 shares of the company’s stock, valued at approximately $1,525,000.

A number of other institutional investors have also recently added to or reduced their stakes in ONON. Cullen Frost Bankers Inc. grew its stake in ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after acquiring an additional 467 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in ON during the 4th quarter worth $27,000. TD Private Client Wealth LLC boosted its stake in ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the last quarter. Bogart Wealth LLC boosted its stake in ON by 88.9% during the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after purchasing an additional 400 shares during the last quarter. Finally, United Financial Planning Group LLC acquired a new stake in ON during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ONON shares. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Evercore set a $42.00 target price on shares of ON in a research note on Tuesday, May 12th. Stifel Nicolaus set a $58.00 target price on shares of ON in a research note on Tuesday, March 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of ON in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and an average target price of $55.05.

Insider Buying and Selling

In other news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction 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 in the company, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Allemann purchased 60,000 shares of ON 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 acquisition, the chief executive officer owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This trade 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 acquired 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838.

ON Stock Up 2.9%

NYSE ONON opened at $38.20 on Wednesday. On Holding AG has a 52 week low of $31.41 and a 52 week high of $58.08. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $36.28 and its 200-day simple moving average is $41.79. The firm has a market cap of $24.38 billion, a PE ratio of 41.08, a P/E/G ratio of 0.72 and a beta of 2.10.

ON (NYSE:ONON) last posted its quarterly 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 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 quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that On Holding AG will post 1.47 earnings per share for the current year.

ON Company 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.