Dymon Asia Capital Singapore PTE. LTD. Reduces Stock Holdings in On Holding AG $ONON

Dymon Asia Capital Singapore PTE. LTD. lessened its holdings in shares of On Holding AG (NYSE:ONON) by 55.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 40,000 shares of the company’s stock after selling 49,996 shares during the period. Dymon Asia Capital Singapore PTE. LTD.’s holdings in ON were worth $1,859,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ONON. Sinvest Investments II Ltd. acquired a new stake in ON during the 4th quarter valued at approximately $390,432,000. Morgan Stanley grew its stake in ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after purchasing an additional 6,997,455 shares in the last quarter. FengHe Fund Management Pte. Ltd. acquired a new stake in ON during the 4th quarter valued at approximately $142,425,000. Norges Bank acquired a new stake in ON during the 4th quarter valued at approximately $128,826,000. Finally, Ameriprise Financial Inc. grew its stake in ON by 4,564.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after purchasing an additional 2,242,480 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ONON shares. Stifel Nicolaus set a $58.00 price objective on ON in a research note on Tuesday, March 3rd. Needham & Company LLC lowered their price objective on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. KeyCorp lowered their price objective on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Raymond James Financial upgraded ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research report on Thursday, April 23rd. Finally, Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Two 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Insider Transactions at ON

In related news, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired 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 in the company, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the sale, the chief executive officer directly owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. 68.57% of the stock is currently owned by corporate insiders.

ON Price Performance

Shares of ONON opened at $38.60 on Friday. The firm has a market cap of $24.63 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 0.75 and a beta of 2.10. The stock has a 50 day moving average of $36.58 and a 200-day moving average of $41.73. 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 52 week low of $31.41 and a 52 week high of $55.95.

ON (NYSE:ONON) last issued its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.35 by $0.11. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. As a group, analysts forecast that On Holding AG will post 1.47 EPS for the current 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.