ON Sees Unusually High Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) was the target of some unusual options trading activity on Monday. Traders bought 25,943 call options on the stock. This represents an increase of 155% compared to the typical daily volume of 10,181 call options.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore set a $42.00 price target on ON in a research note on Tuesday, May 12th. Guggenheim restated a “buy” rating and issued a $51.00 price objective on shares of ON in a report on Wednesday, May 13th. Raymond James Financial raised shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research report on Thursday, April 23rd. Truist Financial reduced their target price on shares of ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Telsey Advisory Group decreased their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.79.

ON Stock Performance

ONON stock traded up $0.34 during midday trading on Monday, hitting $37.55. 1,231,099 shares of the company traded hands, compared to its average volume of 5,869,987. ON has a twelve month low of $31.41 and a twelve month high of $53.37. The stock has a market capitalization of $23.96 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 0.69 and a beta of 2.12. 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 50 day simple moving average of $37.57 and a 200-day simple moving average of $40.03.

ON (NYSE:ONON) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. ON’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, equities research analysts predict that ON will post 1.51 earnings per share for the current year.

Insider Activity at ON

In related news, insider Olivier Bernhard purchased 60,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the purchase, the insider owned 5,163,184 shares of the company’s stock, valued at $189,127,429.92. The trade was a 1.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Martin Hoffmann sold 4,150 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the sale, the chief executive officer owned 1,385,099 shares of the company’s stock, valued at approximately $49,641,948.16. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have acquired 180,000 shares of company stock valued at $6,594,000. Insiders own 68.57% of the company’s stock.

Institutional Investors Weigh In On ON

Hedge funds have recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its position in shares of ON by 3.6% in the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock worth $320,000 after purchasing an additional 240 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in ON by 2.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock valued at $571,000 after buying an additional 285 shares during the last quarter. Parallel Advisors LLC increased its stake in ON by 2.8% in the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after buying an additional 285 shares during the last quarter. MetLife Investment Management LLC lifted its position in ON by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock worth $670,000 after buying an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after buying an additional 312 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

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.