Investment House LLC Acquires 107,874 Shares of On Holding AG $ONON

Investment House LLC bought a new position in shares of On Holding AG (NYSE:ONON) in the third quarter, Holdings Channel.com reports. The fund bought 107,874 shares of the company’s stock, valued at approximately $3,194,000.

Other hedge funds have also bought and sold shares of the company. APEIRON CAPITAL Ltd lifted its holdings 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 during the period. OMERS ADMINISTRATION Corp acquired a new stake in ON during the 1st quarter worth about $5,694,000. Capricorn Fund Managers Ltd bought a new position in shares of ON in the 1st quarter worth about $4,748,000. B.A. Schrock Wealth Management Inc. bought a new position in shares of ON in the 3rd quarter worth about $3,991,000. Finally, Moran Wealth Management LLC raised its position in shares of ON by 1,785.7% in the 1st quarter. Moran Wealth Management LLC now owns 133,788 shares of the company’s stock worth $4,551,000 after acquiring an additional 126,693 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of ON in a research note on Thursday, September 24th. Guggenheim set a $42.00 target price on ON in a research note on Friday, September 11th. Truist Financial lowered their target price on ON from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Williams Trading set a $32.00 price target on ON in a report on Tuesday, August 11th. Finally, Zacks Research upgraded ON from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.48.

Insiders Place Their Bets

In other news, CEO Caspar Coppetti bought 65,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the acquisition, the chief executive officer directly owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Olivier Bernhard purchased 65,000 shares of ON stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider owned 5,228,184 shares in the company, valued at $160,348,403.28. This trade represents a 1.26% increase in their position. The disclosure for this purchase is available in the SEC filing. 68.57% of the stock is owned by company insiders.

ON Stock Down 0.5%

ONON stock opened at $34.04 on Friday. The stock’s 50 day simple moving average is $30.47 and its 200 day simple moving average is $34.54. The company has a market cap of $21.72 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 0.68 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. On Holding AG has a fifty-two week low of $26.36 and a fifty-two week high of $51.08.

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

ON 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.