On Holding AG $ONON Shares Acquired by Riposte Capital LLC

Riposte Capital LLC increased its position in shares of On Holding AG (NYSE:ONON) by 30.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 325,000 shares of the company’s stock after buying an additional 75,000 shares during the quarter. ON comprises about 2.8% of Riposte Capital LLC’s holdings, making the stock its 9th biggest position. Riposte Capital LLC’s holdings in ON were worth $11,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitlin John LLC acquired a new stake in ON in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. raised its holdings in shares of ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 purchasing an additional 594 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in ON by 109.9% in 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 in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Olivier Bernhard acquired 60,000 shares of the firm’s 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 acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the purchase, the chief executive officer directly 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. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 180,000 shares of company stock worth $6,594,000.

ON Trading Up 2.3%

Shares of ON stock opened at $37.93 on Wednesday. The company’s fifty day simple moving average is $37.67 and its 200-day simple moving average is $39.49. The company has a market cap of $24.20 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 0.69 and a beta of 2.12. 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 Holding AG has a 1 year low of $31.41 and a 1 year high of $52.41.

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, topping 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that On Holding AG will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ONON shares. Wall Street Zen lowered ON from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. assumed coverage on ON in a report on Thursday, July 2nd. They issued an “overweight” rating and a $51.00 target price for the company. Zacks Research upgraded ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Needham & Company LLC lowered their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research note 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus target price of $53.79.

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.