Stock Traders Buy Large Volume of ON Put Options (NYSE:ONON)

On Holding AG (NYSE:ONON - Get Free Report) was the target of unusually large options trading activity on Monday. Stock traders acquired 19,317 put options on the company. This is an increase of approximately 67% compared to the typical volume of 11,548 put options.

ON Stock Down 16.1 %

Shares of ONON traded down $7.21 on Thursday, hitting $37.71. The company's stock had a trading volume of 16,864,464 shares, compared to its average volume of 4,454,804. The firm's fifty day moving average price is $51.23 and its 200-day moving average price is $52.58. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 87.74, a P/E/G ratio of 1.02 and a beta of 2.35. ON has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ONON. Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Stifel Nicolaus increased their price target on shares of ON from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Morgan Stanley increased their target price on ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Williams Trading boosted their price target on ON from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group cut ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective on the stock. in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.45.

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Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONON. FMR LLC boosted its holdings in shares of ON by 1.6% during the fourth quarter. FMR LLC now owns 28,875,965 shares of the company's stock worth $1,581,537,000 after acquiring an additional 462,738 shares during the period. Alliancebernstein L.P. raised its stake in ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock worth $951,808,000 after buying an additional 471,805 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of ON by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock valued at $184,109,000 after buying an additional 18,752 shares during the last quarter. Norges Bank purchased a new position in shares of ON during the fourth quarter valued at approximately $164,574,000. Finally, Jennison Associates LLC lifted its position in shares of ON by 27.4% during the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock worth $112,259,000 after buying an additional 440,685 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

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.