ON Target of Unusually High Options Trading (NYSE:ONON)

On Holding AG (NYSE:ONON - Get Free Report) was the recipient of some unusual options trading activity on Friday. Stock traders acquired 23,091 call options on the stock. This represents an increase of approximately 81% compared to the average volume of 12,726 call options.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ONON. Morgan Stanley boosted their price target on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and issued a $64.00 target price on shares of ON in a research report on Tuesday, March 4th. HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a report on Tuesday, March 11th. KeyCorp reiterated an "overweight" rating and issued a $68.00 price objective on shares of ON in a report on Wednesday, March 5th. Finally, UBS Group raised their target price on ON from $65.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ON has a consensus rating of "Buy" and a consensus price target of $61.90.

Institutional Trading of ON

Hedge funds have recently made changes to their positions in the company. Apollon Wealth Management LLC raised its holdings in ON by 74.0% during the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after acquiring an additional 6,808 shares during the period. RB Capital Management LLC lifted its holdings in ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock worth $1,125,000 after purchasing an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after purchasing an additional 349,789 shares during the period. Strategic Financial Concepts LLC purchased a new position in ON during the 4th quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock valued at $4,195,000 after buying an additional 71,436 shares during the period. 36.39% of the stock is currently owned by institutional investors.

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ON Trading Down 0.4 %

Shares of NYSE:ONON traded down $0.20 during mid-day trading on Tuesday, hitting $48.12. 1,346,355 shares of the company traded hands, compared to its average volume of 4,328,636. The stock has a market cap of $30.30 billion, a P/E ratio of 111.86, a P/E/G ratio of 1.02 and a beta of 2.35. The stock has a 50-day moving average price of $52.91 and a two-hundred day moving average price of $52.69. ON has a 12-month low of $29.84 and a 12-month high of $64.05.

ON Company Profile

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.