Lisanti Capital Growth LLC Invests $715,000 in On Holding AG (NYSE:ONON)

Lisanti Capital Growth LLC purchased a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,515 shares of the company’s stock, valued at approximately $715,000.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management increased its holdings in ON by 91.0% in the third quarter. Spire Wealth Management now owns 972 shares of the company’s stock valued at $27,000 after purchasing an additional 463 shares during the period. Orion Capital Management LLC increased its holdings in ON by 1,100.0% in the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,100 shares during the period. Global Wealth Management Investment Advisory Inc. acquired a new stake in ON in the fourth quarter valued at $33,000. Asset Dedication LLC acquired a new stake in ON in the third quarter valued at $35,000. Finally, Signaturefd LLC increased its holdings in ON by 816.7% in the third quarter. Signaturefd LLC now owns 1,375 shares of the company’s stock valued at $38,000 after purchasing an additional 1,225 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Down 0.1 %

NYSE ONON traded down $0.02 during trading hours on Tuesday, hitting $34.02. The company’s stock had a trading volume of 4,239,260 shares, compared to its average volume of 4,994,950. On Holding AG has a 52 week low of $23.41 and a 52 week high of $37.08. The company has a market capitalization of $21.42 billion, a PE ratio of 128.41, a price-to-earnings-growth ratio of 1.16 and a beta of 2.17. The company’s 50-day simple moving average is $33.26 and its two-hundred day simple moving average is $29.99.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). ON had a net margin of 4.04% and a return on equity of 6.85%. The business had revenue of $504.69 million during the quarter, compared to the consensus estimate of $515.30 million. Research analysts anticipate that On Holding AG will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ONON shares. Truist Financial increased their price objective on ON from $29.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Evercore ISI cut their price target on shares of ON from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. TD Cowen upped their price target on shares of ON from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Redburn Atlantic reaffirmed a “neutral” rating and set a $34.00 price target on shares of ON in a research report on Thursday, March 7th. Finally, TheStreet cut shares of ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and an average price target of $37.53.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.