Stock Traders Buy High Volume of ON Call Options (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of unusually large options trading activity on Monday. Investors purchased 82,420 call options on the company. This is an increase of 377% compared to the average volume of 17,278 call options.

Analyst Ratings Changes

Several brokerages recently weighed in on ONON. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 price objective on shares of ON in a report on Tuesday, February 24th. Truist Financial reduced their target price on ON from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Bank of America increased their target price on ON from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.86.

ON Trading Up 1.3%

NYSE:ONON traded up $0.63 on Monday, reaching $47.11. The company’s stock had a trading volume of 5,430,212 shares, compared to its average volume of 4,825,359. ON has a 12-month low of $34.38 and a 12-month high of $61.29. The stock has a 50 day moving average price of $46.41 and a 200 day moving average price of $44.42. The firm has a market cap of $29.58 billion, a price-to-earnings ratio of 61.14, a price-to-earnings-growth ratio of 1.39 and a beta of 2.14. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ONON. Bison Wealth LLC lifted its holdings in shares of ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after acquiring an additional 2,442 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in ON in the second quarter valued at approximately $300,000. Envestnet Asset Management Inc. lifted its stake in ON by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 418,598 shares of the company’s stock worth $21,788,000 after purchasing an additional 5,107 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in ON by 549.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 36,511 shares of the company’s stock worth $1,900,000 after purchasing an additional 30,888 shares in the last quarter. Finally, World Investment Advisors purchased a new position in shares of ON during the second quarter worth $206,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About ON

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.