On Holding AG $ONON Shares Bought by Bamco Inc. NY

Bamco Inc. NY boosted its stake in shares of On Holding AG (NYSE:ONON) by 13.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,405,486 shares of the company’s stock after purchasing an additional 658,933 shares during the quarter. ON comprises approximately 0.7% of Bamco Inc. NY’s holdings, making the stock its 26th biggest position. Bamco Inc. NY’s holdings in ON were worth $251,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PDT Partners LLC grew its position in ON by 65.3% during the 4th quarter. PDT Partners LLC now owns 15,700 shares of the company’s stock worth $730,000 after purchasing an additional 6,200 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in ON during the 4th quarter worth about $1,083,000. AQR Capital Management LLC grew its position in ON by 130.6% during the 4th quarter. AQR Capital Management LLC now owns 20,691 shares of the company’s stock worth $962,000 after purchasing an additional 11,720 shares during the period. EFG International AG acquired a new stake in ON during the 4th quarter worth about $6,437,000. Finally, Lazard Asset Management LLC grew its position in ON by 51.4% during the 4th quarter. Lazard Asset Management LLC now owns 46,375 shares of the company’s stock worth $2,156,000 after purchasing an additional 15,742 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONON has been the topic of several analyst reports. BTIG Research reaffirmed a “buy” rating and set a $70.00 price target on shares of ON in a research report on Tuesday, March 3rd. Guggenheim restated a “buy” rating and set a $51.00 target price on shares of ON in a research report on Wednesday, May 13th. Needham & Company LLC dropped their target price on ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Stifel Nicolaus set a $58.00 target price on ON in a research report on Tuesday, March 3rd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of ON in a research report on Wednesday, March 4th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.05.

ON Trading Down 1.0%

ONON opened at $37.67 on Thursday. 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 company’s 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $41.64. On Holding AG has a 1-year low of $31.41 and a 1-year high of $55.95. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 0.74 and a beta of 2.10.

ON (NYSE:ONON) last released its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.21 EPS. The business’s revenue was up 14.5% on a year-over-year basis. Analysts expect that On Holding AG will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling at ON

In other ON news, insider Olivier Bernhard bought 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the insider directly 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the transaction, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. 68.57% of the stock is currently owned by corporate insiders.

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.