Polymer Capital Management HK LTD Has $5.48 Million Holdings in On Holding AG $ONON

Polymer Capital Management HK LTD lessened its stake in On Holding AG (NYSE:ONON) by 30.0% in the 4th quarter, HoldingsChannel reports. The fund owned 117,995 shares of the company’s stock after selling 50,630 shares during the quarter. ON accounts for about 0.8% of Polymer Capital Management HK LTD’s holdings, making the stock its 27th biggest holding. Polymer Capital Management HK LTD’s holdings in ON were worth $5,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Bison Wealth LLC increased its position in ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after acquiring an additional 2,442 shares in the last quarter. Prudential Financial Inc. acquired a new stake in ON in the 2nd quarter valued at about $517,000. Invesco Ltd. increased its position in ON by 305.5% in the 2nd quarter. Invesco Ltd. now owns 157,281 shares of the company’s stock valued at $8,186,000 after acquiring an additional 118,498 shares in the last quarter. Cresset Asset Management LLC increased its position in ON by 13.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,232 shares of the company’s stock valued at $376,000 after acquiring an additional 860 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in ON by 91.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,661 shares of the company’s stock valued at $139,000 after acquiring an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Insider Buying and Selling at ON

In other ON news, CEO Caspar Felix Coppetti bought 60,000 shares of ON stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the purchase, the chief executive officer owned 2,375,855 shares of the company’s stock, valued at $87,051,327.20. This trade represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the transaction, the chief executive officer directly owned 1,385,099 shares in the company, valued at $49,641,948.16. This trade represents a 0.30% decrease in their position. 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 quarter, insiders purchased 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. 68.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ONON. Stifel Nicolaus set a $58.00 price objective on shares of ON in a research report on Tuesday, March 3rd. UBS Group restated a “buy” rating on shares of ON in a research report on Thursday, February 19th. Barclays lowered their price objective on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Guggenheim restated a “buy” rating and issued a $51.00 price objective on shares of ON in a research report on Wednesday, May 13th. Finally, KeyCorp lowered their price objective on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.05.

ON Stock Down 1.6%

Shares of NYSE ONON opened at $38.60 on Friday. The firm has a market capitalization of $24.63 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 0.76 and a beta of 2.10. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. On Holding AG has a 1 year low of $31.41 and a 1 year high of $55.95. The firm’s 50-day moving average is $36.58 and its 200-day moving average is $41.73.

ON (NYSE:ONON) last issued 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. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Equities analysts expect that On Holding AG will post 1.47 EPS for the current year.

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.