Legato Capital Management LLC Buys Shares of 9,270 On Holding AG (NYSE:ONON)

Legato Capital Management LLC purchased a new position in On Holding AG (NYSE:ONON) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,270 shares of the company’s stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Artemis Investment Management LLP increased its stake in ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company’s stock valued at $637,000 after purchasing an additional 302 shares in the last quarter. Janney Capital Management LLC increased its position in shares of ON by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 14,893 shares of the company’s stock valued at $402,000 after acquiring an additional 443 shares in the last quarter. Spire Wealth Management raised its holdings in ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock worth $45,000 after acquiring an additional 643 shares during the last quarter. Vista Capital Partners Inc. lifted its position in ON by 4.3% in the 1st quarter. Vista Capital Partners Inc. now owns 18,000 shares of the company’s stock valued at $637,000 after acquiring an additional 750 shares in the last quarter. Finally, Bennett Selby Investments LP lifted its position in ON by 5.0% in the 2nd quarter. Bennett Selby Investments LP now owns 17,013 shares of the company’s stock valued at $660,000 after acquiring an additional 808 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group boosted their price target on ON from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Truist Financial boosted their target price on ON from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Needham & Company LLC lifted their price target on shares of ON from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. The Goldman Sachs Group boosted their price objective on shares of ON from $41.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley raised their target price on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.83.

ON Price Performance

Shares of ONON stock traded up $1.97 during trading hours on Tuesday, hitting $47.87. The stock had a trading volume of 6,197,462 shares, compared to its average volume of 5,254,221. The stock’s 50-day moving average price is $39.72 and its two-hundred day moving average price is $36.62. On Holding AG has a one year low of $23.41 and a one year high of $47.95. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 108.25, a PEG ratio of 1.22 and a beta of 2.22.

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.