Qsemble Capital Management LP Has $3.40 Million Stock Position in On Holding AG $ONON

Qsemble Capital Management LP lifted its position in On Holding AG (NYSE:ONON) by 298.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,061 shares of the company’s stock after buying an additional 54,741 shares during the period. Qsemble Capital Management LP’s holdings in ON were worth $3,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sands Capital Management LLC grew its stake in 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 acquiring an additional 2,155,083 shares during the period. Bamco Inc. NY raised its position in shares of ON by 14.7% during the third quarter. Bamco Inc. NY now owns 4,746,553 shares of the company’s stock worth $201,017,000 after purchasing an additional 606,579 shares during the period. American Century Companies Inc. lifted its holdings in shares of ON by 9.9% during the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock valued at $171,876,000 after purchasing an additional 365,907 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of ON by 44.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock valued at $138,865,000 after purchasing an additional 1,026,804 shares in the last quarter. Finally, FengHe Fund Management Pte. Ltd. acquired a new position in shares of ON in the 4th quarter valued at approximately $142,425,000. 36.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the transaction, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. The trade was a 2.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. 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. Corporate insiders own 68.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ONON. Stifel Nicolaus set a $58.00 target price on ON in a research note on Tuesday, March 3rd. Barclays reduced their price target on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Research downgraded shares of ON from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 11th. UBS Group restated a “buy” rating on shares of ON in a report on Thursday, February 19th. Finally, Telsey Advisory Group reduced their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday. Two equities 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.05.

ON Stock Performance

ONON opened at $37.21 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.13 and a current ratio of 2.98. The business’s 50-day simple moving average is $36.24 and its 200 day simple moving average is $41.79. The firm has a market capitalization of $23.75 billion, a PE ratio of 40.01, a PEG ratio of 0.75 and a beta of 2.09. On Holding AG has a 52-week low of $31.41 and a 52-week high of $61.29.

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.