Sage Capital Advisors llc Has $2.48 Million Holdings in On Holding AG $ONON

Sage Capital Advisors llc trimmed its holdings in shares of On Holding AG (NYSE:ONON) by 30.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,108 shares of the company’s stock after selling 30,062 shares during the quarter. Sage Capital Advisors llc’s holdings in ON were worth $2,483,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ONON. Gradient Investments LLC grew its position in shares of ON by 14.0% during the 2nd quarter. Gradient Investments LLC now owns 64,799 shares of the company’s stock worth $2,295,000 after purchasing an additional 7,934 shares in the last quarter. Red Spruce Capital LLC raised its position in shares of ON by 40.9% in the second quarter. Red Spruce Capital LLC now owns 60,114 shares of the company’s stock valued at $2,129,000 after buying an additional 17,445 shares in the last quarter. City Center Advisors LLC raised its position in shares of ON by 8.1% in the second quarter. City Center Advisors LLC now owns 8,246 shares of the company’s stock valued at $292,000 after buying an additional 619 shares in the last quarter. PVG Asset Management Corp boosted its stake in shares of ON by 5.4% in the second quarter. PVG Asset Management Corp now owns 9,341 shares of the company’s stock valued at $331,000 after buying an additional 480 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of ON in the first quarter valued at approximately $1,998,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Trading Up 3.3%

Shares of ON stock opened at $38.79 on Tuesday. The firm’s 50 day moving average is $37.31 and its 200 day moving average is $38.91. The firm has a market capitalization of $24.75 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 0.69 and a beta of 2.12. On Holding AG has a 1 year low of $31.41 and a 1 year 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.

ON (NYSE:ONON) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that On Holding AG will post 1.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ONON shares. UBS Group reduced their price target on ON from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen downgraded ON from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings raised ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Barclays dropped 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. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.84.

Insiders Place Their Bets

In related news, insider Olivier Bernhard purchased 60,000 shares of the 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 completion of the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Michael Allemann purchased 60,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at approximately $104,069,786.04. This represents a 2.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 180,000 shares of company stock valued at $6,594,000.

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.