ON Sees Unusually High Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) saw unusually large options trading on Monday. Stock traders purchased 18,652 put options on the stock. This represents an increase of approximately 61% compared to the average daily volume of 11,573 put options.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stifel Nicolaus set a $58.00 target price on shares of ON in a report on Tuesday, March 3rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of ON in a report on Wednesday, March 4th. UBS Group reiterated a “buy” rating on shares of ON in a report on Thursday, February 19th. Guggenheim reiterated a “buy” rating and issued a $51.00 target price on shares of ON in a report on Wednesday, May 13th. Finally, Raymond James Financial upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ON presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

ON Stock Performance

Shares of NYSE:ONON traded down $0.65 on Monday, hitting $36.44. 1,805,300 shares of the company were exchanged, compared to its average volume of 6,216,209. The company’s 50 day moving average price is $36.06 and its two-hundred day moving average price is $41.86. ON has a one year low of $31.41 and a one year high of $58.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 2.98. The firm has a market capitalization of $23.25 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 0.72 and a beta of 2.10.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. ON had a net margin of 7.92% and a return on equity of 15.72%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. Research analysts expect that ON will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Olivier Bernhard bought 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $2,197,800.00. Following the acquisition, the insider directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction on Monday, April 27th. The stock was sold at an average price of $35.84, for a total transaction of $148,736.00. Following the completion of the transaction, the chief executive officer owned 1,385,099 shares in the company, valued at $49,641,948.16. This trade represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have purchased 180,000 shares of company stock worth $6,594,000 and have sold 20,750 shares worth $745,838. 68.57% of the stock is owned by corporate insiders.

Institutional Trading of ON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONON. Platinum Paramount Investment LTD. bought a new position in shares of ON in the fourth quarter valued at approximately $525,784,000. Sinvest Investments II Ltd. bought a new position in shares of ON in the fourth quarter valued at approximately $390,432,000. Morgan Stanley raised its stake in shares of ON by 40.9% in the fourth quarter. Morgan Stanley now owns 24,119,871 shares of the company’s stock valued at $1,121,092,000 after acquiring an additional 6,997,455 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of ON in the fourth quarter valued at approximately $142,425,000. Finally, Norges Bank bought a new position in shares of ON in the fourth quarter valued at approximately $128,826,000. 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.