Lombard Odier Asset Management Europe Ltd Purchases Shares of 58,739 On Holding AG $ONON

Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of On Holding AG (NYSE:ONON) in the 1st quarter, Holdings Channel reports. The fund purchased 58,739 shares of the company’s stock, valued at approximately $1,998,000.

Several other institutional investors have also recently made changes to their positions in ONON. Cullen Frost Bankers Inc. boosted its holdings in shares of ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after buying an additional 467 shares during the last quarter. Caitlin John LLC purchased a new position in shares of ON during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after acquiring an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON during the 4th quarter valued at $27,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after acquiring an additional 594 shares during the period. Institutional investors own 36.39% of the company’s stock.

Insider Activity at ON

In related news, CEO Caspar Felix Coppetti bought 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, the chief executive officer owned 2,375,855 shares in the company, valued at $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Michael Allemann acquired 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. The trade was 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 acquired 180,000 shares of company stock valued at $6,594,000.

ON Stock Up 0.3%

NYSE ONON opened at $36.34 on Monday. On Holding AG has a 12 month low of $31.41 and a 12 month high of $52.20. 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 stock has a market cap of $23.19 billion, a PE ratio of 39.07, a P/E/G ratio of 0.68 and a beta of 2.12. The stock’s 50 day moving average is $37.56 and its 200 day moving average is $39.23.

ON (NYSE:ONON) last announced 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. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Research analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ONON shares. Guggenheim reaffirmed a “buy” rating and issued a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Truist Financial reduced their price target on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Evercore set a $42.00 price objective on ON in a research note on Tuesday, May 12th. Zacks Research raised ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Needham & Company LLC reduced their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.63.

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.