Militia Capital Management LLC Acquires Shares of 40,800 On Holding AG $ONON

Militia Capital Management LLC bought a new position in shares of On Holding AG (NYSE:ONON) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 40,800 shares of the company’s stock, valued at approximately $1,388,000.

Several other large investors have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of ON by 54.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock valued at $8,320,000 after buying an additional 62,500 shares in the last quarter. Robinhood Asset Management LLC purchased a new position in ON in the 4th quarter valued at approximately $4,747,000. One Capital Management LLC bought a new stake in ON during the 4th quarter valued at $8,887,000. RFG Advisory LLC purchased a new stake in shares of ON during the fourth quarter worth $1,343,000. Finally, Norges Bank purchased a new stake in shares of ON during the fourth quarter worth $128,826,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Up 0.3%

ONON opened at $36.34 on Monday. The firm has a market capitalization of $23.19 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 0.68 and a beta of 2.12. On Holding AG has a one year low of $31.41 and a one year high of $52.20. The company has a fifty day moving average price of $37.56 and a 200-day moving average price of $39.23. 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 posted its quarterly earnings data 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 company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts expect that On Holding AG will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at ON

In other ON news, CEO David Michael Allemann acquired 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the chief executive officer owned 2,841,108 shares of the company’s stock, valued at $104,069,786.04. This trade represents a 2.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Olivier Bernhard acquired 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the insider 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 180,000 shares of company stock valued at $6,594,000 in the last 90 days.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONON. KeyCorp reduced their price target on ON from $58.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on ON in a report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price objective on the stock. Evercore set a $42.00 target price on ON in a research note on Tuesday, May 12th. Guggenheim reaffirmed a “buy” rating and set a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Finally, UBS Group decreased their price target on ON from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and an average price target of $53.63.

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.