Manchester Global Management UK Ltd Sells 47,284 Shares of On Holding AG $ONON

Manchester Global Management UK Ltd cut its holdings in On Holding AG (NYSE:ONON) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 632,239 shares of the company’s stock after selling 47,284 shares during the period. ON accounts for approximately 4.0% of Manchester Global Management UK Ltd’s portfolio, making the stock its 12th biggest holding. Manchester Global Management UK Ltd owned 0.10% of ON worth $29,386,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ONON. Cullen Frost Bankers Inc. increased its stake in shares of ON by 639.7% in 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 period. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its stake in shares of ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after purchasing an additional 594 shares during the period. TD Private Client Wealth LLC increased its stake in shares of ON by 109.9% in the fourth quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after purchasing an additional 421 shares during the period. Finally, Bogart Wealth LLC increased its stake in shares of ON by 88.9% in the fourth quarter. Bogart Wealth LLC now owns 850 shares of the company’s stock worth $40,000 after purchasing an additional 400 shares during the period. 36.39% of the stock is currently owned by institutional investors.

ON Stock Down 1.7%

ONON stock opened at $38.04 on Wednesday. On Holding AG has a twelve month low of $31.41 and a twelve month high of $55.95. The company has a market cap of $24.27 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 0.75 and a beta of 2.10. The business’s 50-day simple moving average is $36.79 and its 200 day simple moving average is $41.68. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26.

ON (NYSE:ONON) last released its earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts anticipate that On Holding AG will post 1.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on ONON. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a research note on Wednesday, March 4th. Weiss Ratings upgraded ON from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Truist Financial dropped their price objective on ON from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Telsey Advisory Group decreased their target price 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, BTIG Research reissued a “buy” rating and set a $70.00 target price on shares of ON in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.05.

Insider Transactions at ON

In other news, CEO David Michael Allemann bought 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. The acquisition 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 ON stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $35.84, for a total value of $148,736.00. Following the sale, the chief executive officer directly owned 1,385,099 shares in the company, valued at $49,641,948.16. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders acquired 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838.

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.