ON Sees Unusually High Options Volume (NYSE:ONON)

Key Points

• ON Holding AG saw unusually heavy options activity on Monday, with investors buying 18,652 put options, about 61% above the average volume.
• Insider trading was mixed: CEO Caspar Felix Coppetti bought 60,000 shares, while CEO Martin Hoffmann sold 4,150 shares under a pre-arranged 10b5-1 plan. Over the last three months, insiders were net buyers, and insiders own 68.57% of the company.
• Shares fell 1.7% to $36.44 even after ON reported quarterly earnings that beat expectations, with EPS of $0.46 versus $0.35 expected and revenue of $1.04 billion slightly above estimates.

On Holding AG (NYSE:ONON - Get Free Report) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 18,652 put options on the company. This is an increase of approximately 61% compared to the average volume of 11,573 put options.

Insider Buying and Selling at ON

In other ON news, CEO Caspar Felix Coppetti purchased 60,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the acquisition, the chief executive officer owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. This represents a 2.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin Hoffmann sold 4,150 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $35.84, for a total value of $148,736.00. Following the sale, the chief executive officer directly owned 1,385,099 shares in the company, valued at approximately $49,641,948.16. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders bought 180,000 shares of company stock worth $6,594,000 and sold 20,750 shares worth $745,838. Insiders own 68.57% of the company's stock.

Institutional Investors Weigh In On ON

A number of large investors have recently bought and sold shares of ONON. Jacobi Capital Management LLC lifted its position in shares of ON by 3.6% in the fourth quarter. Jacobi Capital Management LLC now owns 6,875 shares of the company's stock worth $320,000 after buying an additional 240 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of ON by 2.8% during the 4th quarter. Parallel Advisors LLC now owns 10,455 shares of the company's stock worth $486,000 after acquiring an additional 285 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of ON by 2.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 12,283 shares of the company's stock worth $571,000 after acquiring an additional 285 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of ON by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 14,411 shares of the company's stock worth $670,000 after acquiring an additional 308 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company's stock worth $26,000 after acquiring an additional 312 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ONON shares. BTIG Research restated a "buy" rating and issued a $70.00 price target on shares of ON in a research report on Tuesday, March 3rd. Sanford C. Bernstein restated an "outperform" rating on shares of ON in a research report on Wednesday, March 4th. Guggenheim restated a "buy" rating and issued a $51.00 price target on shares of ON in a research report on Wednesday, May 13th. Stifel Nicolaus set a $58.00 price target on shares of ON in a research report on Tuesday, March 3rd. Finally, UBS Group restated a "buy" rating on shares of ON in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.05.

ON Stock Down 1.7%

ONON stock traded down $0.65 during mid-day trading on Monday, hitting $36.44. The stock had a trading volume of 1,805,300 shares, compared to its average volume of 6,216,209. ON has a 1-year low of $31.41 and a 1-year high of $58.08. The company has a fifty day moving average of $36.06 and a 200 day moving average of $41.86. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 0.72 and a beta of 2.10.

ON (NYSE:ONON - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, equities analysts expect that ON will post 1.47 EPS for the current fiscal year.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.

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