Bamco Inc. NY Boosts Stake in On Holding AG $ONON

Bamco Inc. NY boosted its stake in shares of On Holding AG (NYSE:ONON) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,405,486 shares of the company’s stock after buying an additional 658,933 shares during the period. ON accounts for about 0.7% of Bamco Inc. NY’s investment portfolio, making the stock its 26th biggest holding. Bamco Inc. NY owned approximately 0.86% of ON worth $251,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Morgan Stanley lifted its holdings in ON by 40.9% during the fourth 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 during the period. Sinvest Investments II Ltd. purchased a new stake in ON during the fourth quarter worth $390,432,000. Sands Capital Management LLC lifted its holdings 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 period. American Century Companies Inc. lifted its holdings in ON by 9.9% during the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after buying an additional 365,907 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of ON by 44.8% during the third quarter. Ameriprise Financial Inc. now owns 3,318,415 shares of the company’s stock worth $138,865,000 after purchasing an additional 1,026,804 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ONON shares. Barclays reduced their price target on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Raymond James Financial raised ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research report on Thursday, April 23rd. KeyCorp reduced their price target on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Telsey Advisory Group reduced their price target on ON from $60.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, UBS Group reaffirmed a “buy” rating on shares of ON in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.05.

ON Price Performance

NYSE ONON opened at $37.67 on Thursday. 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’s fifty day moving average price is $36.88 and its 200 day moving average price is $41.64. On Holding AG has a 1 year low of $31.41 and a 1 year high of $55.95. The company has a market cap of $24.04 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 0.74 and a beta of 2.10.

ON (NYSE:ONON) last released its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts forecast that On Holding AG will post 1.47 earnings per share for the current year.

Insider Transactions at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the completion of the transaction, the chief executive officer owned 2,375,855 shares in the company, valued at $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. Company insiders own 68.57% of the company’s stock.

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.