Riposte Capital LLC Has $11.06 Million Position in On Holding AG $ONON

Riposte Capital LLC raised its holdings in shares of On Holding AG (NYSE:ONON) by 30.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,000 shares of the company’s stock after acquiring an additional 75,000 shares during the period. ON makes up 2.8% of Riposte Capital LLC’s holdings, making the stock its 9th largest position. Riposte Capital LLC owned approximately 0.05% of ON worth $11,056,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of ON by 40.9% during the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after purchasing an additional 6,997,455 shares during the period. Platinum Paramount Investment LTD. acquired a new stake in ON in the fourth quarter worth about $525,784,000. Sinvest Investments II Ltd. acquired a new position in ON during the 4th quarter valued at about $390,432,000. Bamco Inc. NY increased its stake in ON by 13.9% during the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock valued at $251,247,000 after buying an additional 658,933 shares during the period. Finally, Ameriprise Financial Inc. raised its position 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 worth $138,865,000 after buying an additional 1,026,804 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ONON. Zacks Research raised shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Guggenheim reissued a “buy” rating and set a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Barclays cut their target price on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Raymond James Financial upgraded 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. Finally, KeyCorp dropped their price objective on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ON currently has an average rating of “Moderate Buy” and an average target price of $53.79.

ON Trading Up 2.3%

ON stock opened at $37.93 on Wednesday. On Holding AG has a 1 year low of $31.41 and a 1 year high of $52.41. The firm’s 50 day moving average price is $37.67 and its two-hundred day moving average price is $39.49. The firm has a market cap of $24.20 billion, a price-to-earnings ratio of 40.79, a price-to-earnings-growth ratio of 0.69 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98.

ON (NYSE:ONON) last announced its earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.ON’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. On average, research analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

Insider Transactions at ON

In other news, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the purchase, the chief executive officer directly owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 180,000 shares of company stock valued at $6,594,000 over the last ninety days.

About ON

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.