Stock Traders Purchase High Volume of ON Put Options (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of unusually large options trading activity on Thursday. Traders purchased 42,982 put options on the company. This is an increase of approximately 191% compared to the typical volume of 14,760 put options.

Insider Activity at ON

In other ON news, CEO Caspar Coppetti purchased 65,000 shares of ON stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the transaction, the chief executive officer directly owned 2,440,855 shares in the company, valued at approximately $74,861,022.85. This represents a 2.74% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Olivier Bernhard acquired 65,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the purchase, the insider 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. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 68.57% of the company’s stock.

Institutional Trading of ON

Several large investors have recently added to or reduced their stakes in ONON. Cullen Frost Bankers Inc. increased its holdings in shares of ON by 639.7% during the fourth 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. acquired a new stake in ON in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC grew its position in ON by 69.6% in 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 in the last quarter. TD Private Client Wealth LLC grew its position in ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock valued at $37,000 after buying an additional 421 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in ON during the 1st quarter valued at about $34,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Down 2.5%

NYSE:ONON traded down $0.69 during mid-day trading on Thursday, reaching $26.46. The stock had a trading volume of 3,616,282 shares, compared to its average volume of 6,310,244. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.83 and a quick ratio of 2.25. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.54 and a beta of 2.08. ON has a 1-year low of $26.36 and a 1-year high of $51.08. The stock’s 50 day simple moving average is $32.87 and its two-hundred day simple moving average is $35.73.

ON (NYSE:ONON) last released its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a net margin of 12.09% and a return on equity of 22.92%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts anticipate that ON will post 1.49 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on ONON shares. Robert W. Baird lowered their price target on ON from $70.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. Truist Financial lowered their target price on ON from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. William Blair downgraded ON from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Berenberg Bank set a $38.00 price target on ON in a report on Monday. Finally, Bank of America dropped their price objective on shares of ON from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.92.

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.