Lido Advisors LLC Lowers Stock Holdings in On Holding AG $ONON

Lido Advisors LLC lowered its position in shares of On Holding AG (NYSE:ONON) by 46.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,580 shares of the company’s stock after selling 24,666 shares during the period. Lido Advisors LLC’s holdings in ON were worth $972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC raised its holdings in shares of ON by 3.6% during the 4th quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after buying an additional 240 shares in the last quarter. Parallel Advisors LLC boosted its stake in ON by 2.8% in the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after buying an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in ON by 2.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after acquiring an additional 285 shares during the last quarter. MetLife Investment Management LLC grew its position in ON by 2.2% during the fourth quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock valued at $670,000 after acquiring an additional 308 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its position in ON by 0.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 110,637 shares of the company’s stock valued at $5,142,000 after acquiring an additional 318 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ONON shares. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a report on Thursday, April 23rd. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Needham & Company LLC reduced their target price on shares of ON from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. KeyCorp decreased 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. Finally, Wall Street Zen downgraded shares of ON from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.79.

ON Stock Up 2.3%

NYSE ONON opened at $37.93 on Wednesday. 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 stock has a market capitalization of $24.20 billion, a PE ratio of 40.79, a PEG ratio of 0.69 and a beta of 2.12. On Holding AG has a 1 year low of $31.41 and a 1 year high of $52.41. The business’s 50-day moving average is $37.67 and its 200 day moving average is $39.49.

ON (NYSE:ONON) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $0.21 EPS. ON’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that On Holding AG will post 1.5 earnings per share for the current year.

Insider Activity

In other ON news, CEO David Michael Allemann purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of 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 purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Caspar Felix Coppetti purchased 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.64 per share, for a total transaction of $2,198,400.00. Following the acquisition, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 180,000 shares of company stock valued at $6,594,000.

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.