ON Sees Unusually High Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of some unusual options trading on Friday. Stock traders acquired 37,645 call options on the stock. This is an increase of 175% compared to the average volume of 13,669 call options.

ON Price Performance

Shares of NYSE:ONON opened at $27.39 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. ON has a 1-year low of $26.60 and a 1-year high of $51.08. The company has a market capitalization of $17.48 billion, a P/E ratio of 18.63, a P/E/G ratio of 0.54 and a beta of 2.08. The firm’s 50 day simple moving average is $33.43 and its two-hundred day simple moving average is $36.23.

ON (NYSE:ONON) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%.The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) earnings per share. Research analysts expect that ON will post 1.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONON. Weiss Ratings lowered shares of ON from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Evercore set a $40.00 price target on shares of ON in a research note on Wednesday, August 12th. UBS Group dropped their price target on shares of ON from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Robert W. Baird cut their price objective on shares of ON from $70.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $62.00 price objective on shares of ON in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.04.

Insiders Place Their Bets

In other ON news, insider Olivier Bernhard purchased 65,000 shares of ON stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the insider directly owned 5,228,184 shares of the company’s stock, valued at $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Caspar Coppetti purchased 65,000 shares of ON stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the transaction, the chief executive officer directly owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. The trade was a 2.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 68.57% of the company’s stock.

Hedge Funds Weigh In On ON

Hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. boosted its stake in ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares during the period. Caitlin John LLC bought a new stake in shares of ON during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of ON by 69.6% in the first 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. MidAtlantic Capital Management Inc. purchased a new position in shares of ON in the fourth quarter worth $27,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of ON by 555.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after buying an additional 594 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.

On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.

On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.