ON Target of Unusually Large Options Trading (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 13,182 put options on the company. This is an increase of 7% compared to the average volume of 12,269 put options.

ON Stock Down 2.0%

Shares of NYSE:ONON traded down $0.58 during trading hours on Tuesday, reaching $28.93. The stock had a trading volume of 5,635,508 shares, compared to its average volume of 6,218,279. The firm’s 50 day moving average is $35.88 and its 200-day moving average is $37.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. The stock has a market capitalization of $18.46 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 0.61 and a beta of 2.12. ON has a 1 year low of $28.55 and a 1 year high of $51.08.

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

Insider Transactions at ON

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

Institutional Investors Weigh In On ON

A number of institutional investors have recently modified their holdings of ONON. Caitlin John LLC bought a new position in ON during the fourth quarter worth $25,000. Cullen Frost Bankers Inc. increased its position in shares of ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in ON during the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock worth $33,000 after purchasing an additional 594 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after buying an additional 312 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $42.00 target price on ON in a research note on Wednesday, August 12th. Sanford C. Bernstein reiterated an “outperform” rating and set a $62.00 target price on shares of ON in a research report on Wednesday, August 12th. Williams Trading set a $32.00 target price on ON in a research report on Tuesday, August 11th. Barclays cut their price objective on shares of ON from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. Finally, Bank of America reissued a “buy” rating on shares of ON in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.57.

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.