California First Leasing Corp Boosts Holdings in On Holding AG $ONON

California First Leasing Corp boosted its stake in shares of On Holding AG (NYSE:ONON) by 33.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 84,100 shares of the company’s stock after purchasing an additional 21,000 shares during the quarter. ON comprises approximately 0.9% of California First Leasing Corp’s holdings, making the stock its 28th biggest position. California First Leasing Corp’s holdings in ON were worth $2,861,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ONON. Morgan Stanley lifted its holdings in shares of ON by 40.9% in the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after buying an additional 6,997,455 shares during the period. Platinum Paramount Investment LTD. acquired a new stake in ON during the fourth quarter worth about $525,784,000. Sinvest Investments II Ltd. purchased a new position in ON during the fourth quarter valued at approximately $390,432,000. Sands Capital Management LLC raised its position in ON by 46.7% during the third quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock valued at $286,685,000 after acquiring an additional 2,155,083 shares in the last quarter. Finally, Bamco Inc. NY raised its position in ON by 13.9% during the fourth quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock valued at $251,247,000 after acquiring an additional 658,933 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Down 0.1%

Shares of ONON opened at $36.81 on Monday. The firm has a market cap of $23.49 billion, a P/E ratio of 39.58, a PEG ratio of 0.68 and a beta of 2.12. On Holding AG has a 12 month low of $31.41 and a 12 month high of $54.72. The stock’s 50 day moving average is $37.22 and its two-hundred day moving average is $40.76. 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 announced its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $0.21 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts predict that On Holding AG will post 1.5 earnings per share for the current fiscal year.

Insider Activity at ON

In related news, CEO Caspar Felix Coppetti acquired 60,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the acquisition, the chief executive officer directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Olivier Bernhard bought 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the transaction, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 180,000 shares of company stock worth $6,594,000 and sold 12,450 shares worth $441,352.

Wall Street Analysts Forecast Growth

Several research firms have commented on ONON. Guggenheim restated a “buy” rating and issued a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. Needham & Company LLC cut their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Barclays decreased their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.79.

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.