ON Sees Unusually High Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON - Get Free Report) was the target of some unusual options trading on Tuesday. Stock investors purchased 19,517 call options on the company. This represents an increase of 59% compared to the average volume of 12,264 call options.

Institutional Trading of ON

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC lifted its holdings in shares of ON by 19.1% during the 4th quarter. Park Avenue Securities LLC now owns 16,006 shares of the company's stock valued at $877,000 after purchasing an additional 2,565 shares during the last quarter. Tsfg LLC lifted its holdings in shares of ON by 143.6% during the 4th quarter. Tsfg LLC now owns 3,338 shares of the company's stock valued at $183,000 after purchasing an additional 1,968 shares during the last quarter. Watts Gwilliam & Co. LLC lifted its holdings in shares of ON by 3.7% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 64,830 shares of the company's stock valued at $3,584,000 after purchasing an additional 2,330 shares during the last quarter. Diversified Trust Co purchased a new position in ON in the 4th quarter worth $995,000. Finally, Central Pacific Bank Trust Division raised its stake in ON by 12.7% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company's stock worth $566,000 after acquiring an additional 1,161 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Performance

ON stock traded down $0.87 during mid-day trading on Tuesday, reaching $54.51. 2,467,861 shares of the company were exchanged, compared to its average volume of 2,766,327. The business has a fifty day moving average of $55.62 and a 200 day moving average of $48.51. The firm has a market cap of $34.32 billion, a P/E ratio of 126.77 and a beta of 2.30. ON has a 12-month low of $26.03 and a 12-month high of $60.12.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BTIG Research upgraded ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective on the stock in a research report on Wednesday, November 13th. Robert W. Baird upped their price objective on ON from $55.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. UBS Group reaffirmed a "buy" rating and set a $63.00 target price on shares of ON in a research note on Friday, December 27th. KeyCorp upped their target price on ON from $47.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, September 26th. Finally, Stifel Nicolaus upped their target price on ON from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.86.

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.