Militia Capital Management LLC Makes New $1.39 Million Investment in 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 its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,800 shares of the company’s stock, valued at approximately $1,388,000.

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. grew its holdings in ON by 639.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares during the period. Caitlin John LLC acquired a new stake in ON in the fourth quarter valued at $25,000. MidAtlantic Capital Management Inc. acquired a new stake in ON in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of ON by 555.1% during the 4th 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 in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of ON during the 1st quarter worth $34,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

Shares of NYSE ONON opened at $36.68 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $37.74 and its 200 day moving average price is $39.83. On Holding AG has a 52 week low of $31.41 and a 52 week high of $52.41. The stock has a market cap of $23.40 billion, a price-to-earnings ratio of 39.44, a PEG ratio of 0.69 and a beta of 2.12.

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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.21 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts forecast that On Holding AG will post 1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of ON from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings upgraded shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. KeyCorp dropped their target price on shares of ON from $58.00 to $43.00 and set an “overweight” rating for the company in a report 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. Finally, Guggenheim restated a “buy” rating and issued a $51.00 price target on shares of ON in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.79.

Insider Buying and Selling

In related news, CEO Caspar Felix Coppetti acquired 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $36.64 per share, for a total transaction of $2,198,400.00. Following the transaction, the chief executive officer directly owned 2,375,855 shares of the company’s stock, valued at approximately $87,051,327.20. This trade represents a 2.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Michael Allemann bought 60,000 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the chief executive officer owned 2,841,108 shares in the company, valued at $104,069,786.04. The trade was a 2.16% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 180,000 shares of company stock valued at $6,594,000. 68.57% of the stock is currently owned by company insiders.

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.