Havemeyer Place LP Invests $1.40 Million in On Holding AG $ONON

Havemeyer Place LP bought a new position in shares of On Holding AG (NYSE:ONON) during the 4th quarter, Holdings Channel.com reports. The firm bought 30,168 shares of the company’s stock, valued at approximately $1,402,000.

Several other hedge funds have also recently bought and sold shares of ONON. FengHe Fund Management Pte. Ltd. acquired a new position in ON during the fourth quarter worth $142,425,000. Norges Bank acquired a new position in ON during the fourth quarter worth $128,826,000. Ameriprise Financial Inc. increased its position in ON by 4,564.3% during the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock worth $119,752,000 after buying an additional 2,242,480 shares during the last quarter. Sands Capital Management LLC increased 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 worth $286,685,000 after buying an additional 2,155,083 shares during the last quarter. Finally, State Street Corp increased its position in ON by 765.4% during the second quarter. State Street Corp now owns 2,219,015 shares of the company’s stock worth $115,500,000 after buying an additional 1,962,586 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Olivier Bernhard bought 60,000 shares of the business’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 completion of the purchase, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Michael Allemann bought 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the chief executive officer directly 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 SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838.

ON Stock Up 0.3%

NYSE ONON opened at $37.18 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The firm has a 50-day simple moving average of $36.06 and a 200 day simple moving average of $41.86. On Holding AG has a twelve month low of $31.41 and a twelve month high of $58.08. The stock has a market cap of $23.72 billion, a PE ratio of 39.97, a PEG ratio of 0.72 and a beta of 2.10.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. On average, research analysts forecast that On Holding AG will post 1.47 EPS for the current year.

Analyst Ratings Changes

ONON has been the topic of several analyst reports. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research report on Thursday, April 23rd. KeyCorp lowered their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Needham & Company LLC lowered their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Barclays lowered their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Finally, Guggenheim restated a “buy” rating and set a $51.00 price target on shares of ON in a 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average price target of $55.05.

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.