Lisanti Capital Growth LLC Buys Shares of 95,840 On Holding AG $ONON

Lisanti Capital Growth LLC purchased a new position in On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 95,840 shares of the company’s stock, valued at approximately $4,455,000.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of ON by 54.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,200 shares of the company’s stock worth $8,320,000 after acquiring an additional 62,500 shares in the last quarter. Robinhood Asset Management LLC bought a new position in shares of ON in the 4th quarter worth $4,747,000. Sands Capital Management LLC raised its position in shares of ON by 46.7% in the 3rd quarter. Sands Capital Management LLC now owns 6,769,430 shares of the company’s stock worth $286,685,000 after acquiring an additional 2,155,083 shares in the last quarter. American Century Companies Inc. raised its position in shares of ON by 9.9% in the 3rd quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after acquiring an additional 365,907 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its position in shares of ON by 95.7% in the 3rd quarter. Fox Run Management L.L.C. now owns 46,801 shares of the company’s stock worth $1,982,000 after acquiring an additional 22,883 shares in the last quarter. 36.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ON news, insider Olivier Bernhard bought 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The shares were bought 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 of the company’s stock, valued at approximately $189,127,429.92. This represents a 1.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Michael Allemann bought 60,000 shares of ON stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $2,197,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,841,108 shares in the company, valued at $104,069,786.04. This represents a 2.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 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.

Analyst Ratings Changes

ONON has been the subject of several recent research reports. Barclays reduced their price target on ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Needham & Company LLC reduced their price target on ON from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Guggenheim reissued a “buy” rating and issued a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and issued a $70.00 price target on shares of ON in a research report on Tuesday, March 3rd. Finally, UBS Group reissued a “buy” rating on shares of ON in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.05.

ON Trading Up 1.4%

Shares of NYSE:ONON opened at $39.73 on Friday. The business’s 50-day moving average is $35.95 and its 200 day moving average is $41.76. On Holding AG has a 1 year low of $31.41 and a 1 year high of $61.29. The firm has a market capitalization of $25.35 billion, a P/E ratio of 42.72, a P/E/G ratio of 0.80 and a beta of 2.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39.

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.