Havemeyer Place LP Makes New $1.40 Million Investment in On Holding AG $ONON

Havemeyer Place LP purchased a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 30,168 shares of the company’s stock, valued at approximately $1,402,000.

Several other hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. raised its holdings in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in ON during the fourth quarter worth $27,000. TD Private Client Wealth LLC increased its position in ON by 109.9% during the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares in the last quarter. Bogart Wealth LLC increased its position in ON by 88.9% during the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after buying an additional 400 shares in the last quarter. Finally, United Financial Planning Group LLC purchased a new position in ON during the third quarter worth $42,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Up 0.3%

Shares of ONON opened at $37.18 on Monday. The stock’s 50-day moving average is $36.06 and its two-hundred day moving average is $41.86. The stock has a market cap of $23.72 billion, a PE ratio of 39.97, a P/E/G ratio of 0.72 and a beta of 2.10. On Holding AG has a 12 month low of $31.41 and a 12 month high of $58.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

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

Insiders Place Their Bets

In other ON news, CEO David Michael Allemann acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the chief executive officer directly owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This represents a 2.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders acquired 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ONON. Evercore set a $42.00 price target on ON in a research report on Tuesday, May 12th. Barclays dropped their price target on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings raised ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. KeyCorp lowered their price objective on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. Two 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.05.

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.