Investors Purchase High Volume of ON Put Options (NYSE:ONON)

On Holding AG (NYSE:ONON) was the target of some unusual options trading on Monday. Investors bought 19,317 put options on the stock. This represents an increase of 67% compared to the average volume of 11,548 put options.

ON Stock Down 0.5 %

ONON stock traded down $0.23 during midday trading on Monday, reaching $43.92. The company had a trading volume of 5,284,512 shares, compared to its average volume of 4,375,380. The stock has a 50 day moving average price of $51.85 and a 200 day moving average price of $52.68. The firm has a market capitalization of $27.66 billion, a PE ratio of 102.15, 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.

Institutional Investors Weigh In On ON

Several large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings 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 valued at $1,025,000 after acquiring an additional 705 shares during the period. Wealthedge Investment Advisors LLC acquired a new position in ON during the 4th quarter valued at about $1,556,000. Park Square Financial Group LLC bought a new position in ON in the 4th quarter worth about $32,000. Azzad Asset Management Inc. ADV increased its stake in shares of ON by 0.4% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock valued at $8,018,000 after purchasing an additional 608 shares during the period. Finally, Bernard Wealth Management Corp. bought a new stake in shares of ON during the fourth quarter valued at approximately $44,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONON has been the subject of several recent research reports. Citigroup initiated coverage on shares of ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Barclays raised their price target on shares of ON from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Stifel Nicolaus boosted their price objective on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Telsey Advisory Group restated an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Finally, KeyCorp reiterated an “overweight” rating and issued a $68.00 price target on shares of ON in a research note on Wednesday, March 5th. Two 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $61.90.

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.