ON Sees Unusually Large Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of some unusual options trading activity on Friday. Investors acquired 85,275 call options on the company. This is an increase of 298% compared to the typical daily volume of 21,450 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bison Wealth LLC increased its stake in shares of ON by 35.7% in the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock valued at $509,000 after purchasing an additional 2,442 shares during the period. OneDigital Investment Advisors LLC increased its position in ON by 9.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company’s stock valued at $276,000 after acquiring an additional 544 shares during the period. Concurrent Investment Advisors LLC raised its stake in ON by 19.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 11,279 shares of the company’s stock valued at $495,000 after acquiring an additional 1,866 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in ON by 11.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 413,491 shares of the company’s stock worth $18,161,000 after acquiring an additional 40,837 shares during the period. Finally, Stratos Wealth Partners LTD. grew its stake in shares of ON by 10.5% in the first quarter. Stratos Wealth Partners LTD. now owns 28,707 shares of the company’s stock worth $1,261,000 after purchasing an additional 2,738 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Stock Performance

Shares of ONON stock traded down $1.03 on Friday, hitting $34.49. 4,913,531 shares of the stock traded hands, compared to its average volume of 5,482,191. The company’s fifty day moving average is $42.43 and its 200 day moving average is $48.41. ON has a 1-year low of $34.38 and a 1-year high of $64.05. The company has a market capitalization of $21.71 billion, a PE ratio of 76.63, a PEG ratio of 4.48 and a beta of 2.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.53 and a quick ratio of 2.00.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.35). ON had a net margin of 4.45% and a return on equity of 8.75%. The business had revenue of $944.29 million for the quarter, compared to the consensus estimate of $707.74 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. ON has set its FY 2025 guidance at EPS. On average, equities research analysts predict that ON will post 0.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ONON. TD Cowen reduced their target price on shares of ON from $63.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price objective on shares of ON in a research note on Tuesday, August 12th. Jefferies Financial Group set a $40.00 price target on shares of ON and gave the stock an “underperform” rating in a research note on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Finally, Barclays raised their target price on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.05.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.