Manchester Global Management UK Ltd Has $29.39 Million Stock Position in On Holding AG $ONON

Manchester Global Management UK Ltd trimmed its stake in shares of On Holding AG (NYSE:ONON) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 632,239 shares of the company’s stock after selling 47,284 shares during the period. ON comprises 4.0% of Manchester Global Management UK Ltd’s holdings, making the stock its 12th biggest holding. Manchester Global Management UK Ltd’s holdings in ON were worth $29,386,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings raised ON from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Evercore set a $42.00 target price on ON in a report on Tuesday, May 12th. Guggenheim reissued a “buy” rating and issued a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Barclays reduced their target price on ON from $57.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of ON in a report on Tuesday, March 3rd. Two research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.05.

Insider Transactions at ON

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard acquired 60,000 shares of ON stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the insider owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This represents a 1.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838.

ON Stock Down 1.7%

NYSE:ONON opened at $38.04 on Wednesday. The stock’s fifty day moving average price is $36.79 and its two-hundred day moving average price is $41.68. On Holding AG has a 52-week low of $31.41 and a 52-week high of $55.95. 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 company has a market cap of $24.27 billion, a price-to-earnings ratio of 40.90, a P/E/G ratio of 0.75 and a beta of 2.10.

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, topping 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 firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts anticipate 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.