Lisanti Capital Growth LLC Acquires New Shares in On Holding AG (NYSE:ONON)

Lisanti Capital Growth LLC bought a new position in On Holding AG (NYSE:ONON) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 26,515 shares of the company’s stock, valued at approximately $715,000.

Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its position in ON by 39.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,894 shares of the company’s stock valued at $359,000 after purchasing an additional 3,676 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of ON by 84.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 31,350 shares of the company’s stock worth $872,000 after acquiring an additional 14,320 shares during the period. Bank of New York Mellon Corp purchased a new position in ON in the third quarter worth about $8,063,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ON by 55.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,583 shares of the company’s stock valued at $740,000 after purchasing an additional 9,444 shares during the period. Finally, Park Avenue Securities LLC bought a new position in shares of ON in the 3rd quarter worth approximately $262,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

ON Stock Performance

Shares of ON stock traded down $0.02 on Tuesday, hitting $34.02. 4,239,260 shares of the company traded hands, compared to its average volume of 4,994,950. The stock has a market capitalization of $21.42 billion, a P/E ratio of 128.41, a price-to-earnings-growth ratio of 1.16 and a beta of 2.17. The business has a 50-day simple moving average of $33.26 and a 200 day simple moving average of $29.99. On Holding AG has a 52 week low of $23.41 and a 52 week high of $37.08.

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

Analyst Ratings Changes

Several analysts recently issued reports on ONON shares. TD Cowen boosted their target price 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. Piper Sandler boosted their price objective on shares of ON from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Barclays initiated coverage on ON in a report on Monday, April 1st. They issued an “overweight” rating and a $38.00 target price on the stock. Morgan Stanley upped their price target on ON from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $37.00 price objective on shares of ON in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, ON presently has an average rating of “Moderate Buy” and an average target price 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.