Quantinno Capital Management LP Increases Holdings in On Holding AG $ONON

Quantinno Capital Management LP lifted its holdings in shares of On Holding AG (NYSE:ONON) by 89.6% during the first quarter, HoldingsChannel reports. The firm owned 66,947 shares of the company’s stock after purchasing an additional 31,641 shares during the quarter. Quantinno Capital Management LP’s holdings in ON were worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 valued at $8,320,000 after acquiring an additional 62,500 shares during the period. One Capital Management LLC bought a new stake in shares of ON in the 4th quarter worth approximately $8,887,000. RFG Advisory LLC purchased a new position in ON in the fourth quarter valued at approximately $1,343,000. Norges Bank purchased a new position in ON in the fourth quarter valued at approximately $128,826,000. Finally, Impax Asset Management Group plc grew its holdings in ON by 79.8% during the fourth quarter. Impax Asset Management Group plc now owns 92,209 shares of the company’s stock valued at $4,286,000 after purchasing an additional 40,935 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC decreased their target price on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Barclays cut their price target on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Telsey Advisory Group decreased their price objective on ON from $60.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. KeyCorp restated an “overweight” rating on shares of ON in a research note on Monday. Finally, Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.84.

Insider Activity

In other news, insider Olivier Bernhard acquired 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the purchase, the chief executive officer 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 180,000 shares of company stock worth $6,594,000.

ON Stock Up 3.3%

Shares of NYSE ONON opened at $38.79 on Tuesday. 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 company has a market cap of $24.75 billion, a P/E ratio of 41.71, a P/E/G ratio of 0.69 and a beta of 2.12. On Holding AG has a 52 week low of $31.41 and a 52 week high of $52.20. The business has a 50-day simple moving average of $37.31 and a two-hundred day simple moving average of $38.91.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, beating 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. Research analysts anticipate that On Holding AG will post 1.52 earnings per share for the current fiscal 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.