On Holding AG $ONON Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its position in On Holding AG (NYSE:ONON) by 3.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 354,671 shares of the company’s stock after selling 14,579 shares during the period. Hodges Capital Management Inc.’s holdings in ON were worth $12,066,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other ON news, CEO David Michael Allemann acquired 60,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $35.84, for a total value of $148,736.00. Following the completion of the transaction, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have acquired 180,000 shares of company stock worth $6,594,000 and have sold 12,450 shares worth $441,352.

Wall Street Analyst Weigh In

ONON has been the subject of a number of recent research reports. Needham & Company LLC dropped their price objective on shares of ON from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wall Street Zen upgraded ON from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Barclays dropped their price target on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Zacks Research cut ON from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Finally, KeyCorp reduced their price objective on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.79.

ON Stock Performance

NYSE:ONON opened at $36.81 on Monday. 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 firm has a market cap of $23.49 billion, a PE ratio of 39.58, a P/E/G ratio of 0.68 and a beta of 2.12. The firm has a 50 day simple moving average of $37.22 and a 200-day simple moving average of $40.76. On Holding AG has a 1-year low of $31.41 and a 1-year high of $54.72.

ON (NYSE:ONON) last announced its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. ON’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. On average, equities analysts expect that On Holding AG will post 1.5 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.