ON Sees Unusually High Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON - Get Free Report) was the recipient of some unusual options trading activity on Monday. Traders purchased 19,317 put options on the company. This is an increase of 67% compared to the average daily volume of 11,548 put options.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB bought a new position in ON during the 1st quarter worth $32,000. Wealth Enhancement Advisory Services LLC raised its position in shares of ON by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,707 shares of the company's stock worth $1,025,000 after acquiring an additional 705 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new stake in ON in the fourth quarter valued at approximately $1,556,000. Park Square Financial Group LLC acquired a new position in shares of ON in the 4th quarter worth approximately $32,000. Finally, Azzad Asset Management Inc. ADV boosted its position in ON by 0.4% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company's stock valued at $8,018,000 after acquiring an additional 608 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of NYSE ONON traded up $2.55 during mid-day trading on Friday, reaching $40.20. The company had a trading volume of 12,994,040 shares, compared to its average volume of 4,502,617. ON has a one year low of $29.84 and a one year high of $64.05. The firm has a market cap of $25.31 billion, a price-to-earnings ratio of 93.91, a PEG ratio of 1.02 and a beta of 2.35. The business's 50-day simple moving average is $50.77 and its 200 day simple moving average is $52.48.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Williams Trading lifted their target price on ON from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Telsey Advisory Group reiterated an "outperform" rating and set a $67.00 price objective on shares of ON in a research report on Tuesday. Jefferies Financial Group started coverage on shares of ON in a research note on Tuesday. They set a "hold" rating and a $44.00 target price on the stock. Finally, Morgan Stanley lifted their price objective on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Three 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.45.

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.