JW Asset Management LLC Buys Shares of 135,950 On Holding AG $ONON

JW Asset Management LLC bought a new stake in shares of On Holding AG (NYSE:ONON) during the fourth quarter, Holdings Channel reports. The fund bought 135,950 shares of the company’s stock, valued at approximately $6,319,000. ON accounts for 2.1% of JW Asset Management LLC’s investment portfolio, making the stock its 6th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. grew its position in shares of ON by 639.7% in the 4th 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. TD Private Client Wealth LLC grew its position in shares of ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares during the last quarter. Bogart Wealth LLC grew its position in shares of ON by 88.9% in the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after buying an additional 400 shares during the last quarter. United Financial Planning Group LLC purchased a new position in shares of ON in the 3rd quarter worth approximately $42,000. Finally, Horizon Investments LLC purchased a new position in shares of ON in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Up 3.5%

ONON stock opened at $39.17 on Friday. The firm has a 50 day moving average of $35.95 and a 200 day moving average of $41.77. The stock has a market capitalization of $24.99 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 0.76 and a beta of 2.09. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. On Holding AG has a 52 week low of $31.41 and a 52 week high of $61.29.

Insider Activity at ON

In related news, insider Olivier Bernhard bought 60,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the purchase, the insider directly owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have purchased 180,000 shares of company stock valued at $6,594,000 and have sold 20,750 shares valued at $745,838. Corporate insiders own 68.57% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the topic of a number of analyst reports. Stifel Nicolaus set a $58.00 price objective on shares of ON in a research report on Tuesday, March 3rd. Truist Financial lowered their target price on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Thursday, April 23rd. Finally, KeyCorp lowered their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus target price of $55.05.

About ON

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.