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

On Holding AG (NYSE:ONON - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 33,765 call options on the stock. This is an increase of approximately 160% compared to the typical daily volume of 12,986 call options.

Hedge Funds Weigh In On ON

Several institutional investors and hedge funds have recently modified their holdings of ONON. Keystone Investors PTE Ltd. lifted its position in ON by 0.8% during the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company's stock worth $1,639,000 after purchasing an additional 228 shares during the period. CWM LLC lifted its holdings in shares of ON by 22.2% in the first quarter. CWM LLC now owns 1,259 shares of the company's stock worth $55,000 after acquiring an additional 229 shares during the last quarter. Sage Capital Advisors llc lifted its holdings in shares of ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company's stock worth $4,406,000 after acquiring an additional 269 shares during the last quarter. TCTC Holdings LLC lifted its holdings in shares of ON by 118.4% in the first quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after acquiring an additional 315 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its holdings in shares of ON by 2.4% in the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company's stock worth $743,000 after acquiring an additional 323 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON stock traded up $0.55 on Friday, hitting $54.25. The company's stock had a trading volume of 3,203,823 shares, compared to its average volume of 4,663,080. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. The stock's 50 day moving average is $54.40 and its 200-day moving average is $52.00. ON has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The company has a market capitalization of $34.16 billion, a PE ratio of 77.49, a PEG ratio of 3.07 and a beta of 2.25.

Analysts Set New Price Targets

Several research firms recently weighed in on ONON. Telsey Advisory Group reissued an "outperform" rating and set a $65.00 price objective on shares of ON in a research note on Tuesday, May 13th. Truist Financial lifted their price objective on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Barclays set a $68.00 price objective on shares of ON in a research note on Wednesday, May 14th. Morgan Stanley reduced their price objective on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, UBS Group set a $75.00 price target on shares of ON in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ON currently has a consensus rating of "Buy" and a consensus price target of $63.85.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.