Capricorn Fund Managers Ltd Takes Position in On Holding AG $ONON

Capricorn Fund Managers Ltd purchased a new stake in shares of On Holding AG (NYSE:ONON) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 139,571 shares of the company’s stock, valued at approximately $4,748,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitlin John LLC acquired a new position in shares of ON in the fourth quarter worth about $25,000. Cullen Frost Bankers Inc. boosted its holdings in ON by 639.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd increased its holdings in ON by 555.1% during the 4th 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 during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ONON. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Barclays cut their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Evercore set a $42.00 price objective on shares of ON in a research note on Tuesday, May 12th. Wall Street Zen raised shares of ON from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Stifel Nicolaus set a $58.00 target price on shares of ON in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned 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 a consensus price target of $55.05.

Insider Buying and Selling at ON

In other ON news, CEO David Michael Allemann acquired 60,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at approximately $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olivier Bernhard bought 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the insider directly owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 180,000 shares of company stock valued at $6,594,000 and sold 16,600 shares valued at $580,710.

ON Price Performance

Shares of NYSE ONON opened at $35.47 on Wednesday. On Holding AG has a twelve month low of $31.41 and a twelve month high of $55.95. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 0.67 and a beta of 2.10. The business has a 50 day simple moving average of $37.25 and a 200-day simple moving average of $41.02.

ON (NYSE:ONON) last announced 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. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. As a group, equities research analysts expect that On Holding AG will post 1.5 earnings per share for the current year.

ON Company 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.