MidFirst Bank Makes New $1.74 Million Investment in On Holding AG $ONON

MidFirst Bank acquired a new stake in On Holding AG (NYSE:ONON) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 37,369 shares of the company’s stock, valued at approximately $1,737,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Morgan Stanley raised its stake in shares of ON by 40.9% during the 4th quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock worth $1,121,092,000 after buying an additional 6,997,455 shares during the period. Sinvest Investments II Ltd. acquired a new stake in ON in the 4th quarter valued at $390,432,000. Sands Capital Management LLC increased its holdings in ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after acquiring an additional 2,155,083 shares in the last quarter. Bamco Inc. NY increased its holdings in ON by 13.9% in the 4th quarter. Bamco Inc. NY now owns 5,405,486 shares of the company’s stock worth $251,247,000 after acquiring an additional 658,933 shares in the last quarter. Finally, American Century Companies Inc. raised its position in ON by 9.9% during the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after acquiring an additional 365,907 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Trading Up 2.9%

Shares of ONON stock opened at $38.82 on Friday. The stock’s fifty day moving average is $37.01 and its two-hundred day moving average is $41.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The firm has a market capitalization of $24.77 billion, a P/E ratio of 41.74, a PEG ratio of 0.73 and a beta of 2.10. On Holding AG has a fifty-two week low of $31.41 and a fifty-two week high of $55.95.

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

Analysts Set New Price Targets

Several research firms have issued reports on ONON. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of ON in a report on Wednesday, March 4th. Barclays cut their target price on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price target for the company in a research report on Thursday, April 23rd. Guggenheim reaffirmed a “buy” rating and issued a $51.00 price target on shares of ON in a research note on Wednesday, May 13th. Finally, Zacks Research lowered shares of ON from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ON presently has a consensus rating of “Moderate Buy” and an average price target of $55.05.

Insider Buying and Selling at ON

In other ON news, CEO Caspar Felix Coppetti acquired 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was 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 in the company, valued at approximately $87,051,327.20. The trade was a 2.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Olivier Bernhard acquired 60,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the acquisition, the insider owned 5,163,184 shares in the company, valued at $189,127,429.92. The trade was a 1.18% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 180,000 shares of company stock valued at $6,594,000 and sold 20,750 shares valued at $745,838. Corporate insiders own 68.57% of the company’s stock.

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.