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

On Holding AG (NYSE:ONON) was the recipient of some unusual options trading on Monday. Stock traders purchased 25,943 call options on the company. This is an increase of approximately 155% compared to the average volume of 10,181 call options.

Insiders Place Their Bets

In other ON news, CEO Martin Hoffmann sold 4,150 shares of ON stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company’s stock, valued at $49,641,948.16. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Olivier Bernhard purchased 60,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $36.63 per share, with a total value of $2,197,800.00. Following the completion of the acquisition, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. The trade was a 1.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 180,000 shares of company stock worth $6,594,000.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC lifted its stake in ON by 3.6% in the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company’s stock valued at $320,000 after buying an additional 240 shares during the period. J.W. Cole Advisors Inc. grew its position in shares of ON by 2.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company’s stock worth $571,000 after buying an additional 285 shares during the period. Parallel Advisors LLC grew its position in shares of ON by 2.8% during the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock worth $486,000 after buying an additional 285 shares during the period. MetLife Investment Management LLC increased its stake in shares of ON by 2.2% in the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company’s stock valued at $670,000 after acquiring an additional 308 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 acquiring an additional 312 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Down 1.2%

Shares of ONON stock opened at $37.18 on Wednesday. ON has a one year low of $31.41 and a one year high of $52.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. The stock has a fifty day moving average price of $37.71 and a 200 day moving average price of $39.90. The stock has a market cap of $23.73 billion, a P/E ratio of 39.98, a price-to-earnings-growth ratio of 0.70 and a beta of 2.12.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ON had a net margin of 7.92% and a return on equity of 15.72%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Analysts predict that ON will post 1.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ONON shares. Evercore set a $42.00 price target on shares of ON in a report on Tuesday, May 12th. Truist Financial dropped their price objective on shares of ON from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. JPMorgan Chase & Co. assumed coverage on shares of ON in a research report on Thursday, July 2nd. They set an “overweight” rating and a $51.00 price objective for the company. Telsey Advisory Group reduced their target price on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded ON from a “buy” rating to a “hold” rating in a research report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.79.

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.