Wasatch Advisors LP Has $6.67 Million Stock Position in On Holding AG $ONON

Wasatch Advisors LP lifted its position in On Holding AG (NYSE:ONON) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,030 shares of the company’s stock after buying an additional 22,597 shares during the period. Wasatch Advisors LP’s holdings in ON were worth $6,669,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its holdings in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares in the last quarter. Caitlin John LLC bought a new stake in shares of ON in the fourth quarter worth about $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after acquiring an additional 594 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

Insider Buying and Selling at ON

In other ON news, insider Olivier Bernhard acquired 60,000 shares of ON stock in a transaction dated 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 in the company, valued at approximately $189,127,429.92. This represents a 1.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David Michael Allemann acquired 60,000 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 180,000 shares of company stock worth $6,594,000 and sold 16,600 shares worth $580,710. Corporate insiders own 68.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ONON shares. Wall Street Zen upgraded ON from a “hold” rating to a “buy” rating in a report on Saturday. Sanford C. Bernstein restated an “outperform” rating on shares of ON in a report on Wednesday, March 4th. Zacks Research lowered shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Stifel Nicolaus set a $58.00 price target on shares of ON in a report on Tuesday, March 3rd. Finally, KeyCorp lowered their price objective on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Two equities 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.05.

ON Stock Performance

Shares of ON stock opened at $37.09 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 0.70 and a beta of 2.10. The stock’s 50-day moving average is $37.28 and its 200-day moving average is $41.23. On Holding AG has a one year low of $31.41 and a one year high of $55.95.

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

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.