Peregrine Capital Management LLC Raises Stake in On Holding AG $ONON

Peregrine Capital Management LLC lifted its stake in shares of On Holding AG (NYSE:ONON) by 5.9% during the first quarter, HoldingsChannel.com reports. The firm owned 296,861 shares of the company’s stock after purchasing an additional 16,440 shares during the period. Peregrine Capital Management LLC’s holdings in ON were worth $10,099,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ONON. Jacobi Capital Management LLC lifted its stake in shares of ON by 3.6% in the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after purchasing an additional 240 shares during the period. Parallel Advisors LLC grew its position in ON by 2.8% during the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after buying an additional 285 shares during the period. J.W. Cole Advisors Inc. increased its holdings in ON by 2.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after buying an additional 285 shares in the last quarter. MetLife Investment Management LLC increased its holdings in ON by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock valued at $670,000 after buying an additional 308 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in ON by 0.3% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 110,637 shares of the company’s stock valued at $5,142,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ONON shares. Raymond James Financial raised ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research note on Thursday, April 23rd. Stifel Nicolaus set a $58.00 price objective on ON in a research note on Tuesday, March 3rd. KeyCorp reduced their price objective on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Telsey Advisory Group decreased their target price on ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Evercore set a $42.00 target price on ON in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average price target of $55.05.

ON Stock Performance

Shares of ONON opened at $35.47 on Wednesday. On Holding AG has a 12-month low of $31.41 and a 12-month high of $55.95. The stock has a market cap of $22.64 billion, a P/E ratio of 38.14, a PEG ratio of 0.67 and a beta of 2.10. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $37.25 and a two-hundred day moving average of $41.02.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. ON had a net margin of 7.92% and a return on equity of 15.72%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the sale, the chief executive officer directly owned 1,385,099 shares in the company, valued at $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 180,000 shares of company stock worth $6,594,000 and have sold 16,600 shares worth $580,710.

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.