GSA Capital Partners LLP Invests $801,000 in On Holding AG $ONON

GSA Capital Partners LLP bought a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 17,243 shares of the company’s stock, valued at approximately $801,000.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of ON by 54.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after buying an additional 62,500 shares during the period. Robinhood Asset Management LLC acquired a new position in shares of ON during the 4th quarter worth approximately $4,747,000. Sands Capital Management LLC raised its stake in shares of ON by 46.7% during the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after buying an additional 2,155,083 shares during the period. American Century Companies Inc. raised its stake in shares of ON by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after buying an additional 365,907 shares during the period. Finally, Fox Run Management L.L.C. raised its stake in shares of ON by 95.7% during the 3rd quarter. Fox Run Management L.L.C. now owns 46,801 shares of the company’s stock worth $1,982,000 after buying an additional 22,883 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Up 1.4%

Shares of ONON opened at $39.73 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. On Holding AG has a one year low of $31.41 and a one year high of $61.29. The stock has a market capitalization of $25.35 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 0.80 and a beta of 2.09. The stock has a 50 day moving average price of $35.95 and a 200 day moving average price of $41.76.

Analyst Upgrades and Downgrades

ONON has been the subject of several research analyst reports. KeyCorp reduced their target price on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Telsey Advisory Group reduced their target price on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Stifel Nicolaus set a $58.00 target price on ON in a research note on Tuesday, March 3rd. Zacks Research downgraded ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings raised ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Insider Transactions at ON

In other news, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. 68.57% of the stock is owned by corporate insiders.

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.