ON Sees Unusually High Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) was the target of some unusual options trading activity on Monday. Stock investors acquired 19,317 put options on the company. This represents an increase of 67% compared to the average volume of 11,548 put options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA acquired a new stake in ON during the 3rd quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of ON in the fourth quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new stake in shares of ON during the fourth quarter worth approximately $32,000. Legacy Bridge LLC purchased a new position in ON during the fourth quarter valued at approximately $43,000. Finally, Bernard Wealth Management Corp. acquired a new position in ON in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE ONON traded down $0.23 on Monday, hitting $43.92. 5,284,512 shares of the stock were exchanged, compared to its average volume of 4,375,380. The company’s 50-day moving average price is $51.85 and its two-hundred day moving average price is $52.68. ON has a 52-week low of $29.84 and a 52-week high of $64.05. The company has a market capitalization of $27.66 billion, a price-to-earnings ratio of 102.15, a P/E/G ratio of 1.02 and a beta of 2.35.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Williams Trading increased their target price on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Bank of America started coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Tuesday, March 11th. TD Cowen boosted their price objective on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.90.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.