Lisanti Capital Growth LLC Invests $4.46 Million in On Holding AG $ONON

Key Points

• Lisanti Capital Growth LLC opened a new position in On Holding AG during the fourth quarter, buying 95,840 shares valued at about $4.46 million.
• Several other institutional investors also increased their stakes, and hedge funds and other institutions now own 36.39% of On’s stock.
• Despite mixed analyst revisions, Wall Street still has a Moderate Buy consensus on ONON with an average price target of $55.05, while the stock recently traded up 1.4% to $39.73.

Lisanti Capital Growth LLC bought a new position in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 95,840 shares of the company's stock, valued at approximately $4,455,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Azzad Asset Management Inc. ADV boosted its holdings in shares of ON by 0.3% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 110,637 shares of the company's stock worth $5,142,000 after purchasing an additional 318 shares during the period. Americana Partners LLC boosted its holdings in ON by 4.6% during the 4th quarter. Americana Partners LLC now owns 7,496 shares of the company's stock valued at $348,000 after acquiring an additional 331 shares during the period. Bogart Wealth LLC boosted its holdings in ON by 88.9% during the 4th quarter. Bogart Wealth LLC now owns 850 shares of the company's stock valued at $40,000 after acquiring an additional 400 shares during the period. Jones Financial Companies Lllp boosted its holdings in ON by 1.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 21,960 shares of the company's stock valued at $933,000 after acquiring an additional 417 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company's stock valued at $37,000 after acquiring an additional 421 shares during the period. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Trading Up 1.4%

Shares of NYSE ONON opened at $39.73 on Friday. The company has a quick ratio of 2.39, a current ratio of 2.98 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $35.95 and a two-hundred day simple moving average of $41.76. The firm has a market cap of $25.35 billion, a PE ratio of 42.72, a price-to-earnings-growth ratio of 0.80 and a beta of 2.09. On Holding AG has a twelve month low of $31.41 and a twelve month high of $61.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on ON from $57.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Truist Financial dropped their price objective on ON from $55.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Raymond James Financial upgraded ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 price objective for the company in a report on Thursday, April 23rd. Sanford C. Bernstein restated an "outperform" rating on shares of ON in a report on Wednesday, March 4th. Finally, Needham & Company LLC dropped their price objective on ON from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Two investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.05.

Insider Transactions at ON

In other news, insider Olivier Bernhard bought 60,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the transaction, the insider directly owned 5,163,184 shares in the company, valued at approximately $189,127,429.92. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Caspar Felix Coppetti bought 60,000 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the transaction, the chief executive officer owned 2,375,855 shares in the company, valued at $87,051,327.20. This represents a 2.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 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.

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