Stock Traders Purchase Large Volume of Put Options on ON (NYSE:ONON)

On Holding AG (NYSE:ONON) saw unusually large options trading activity on Thursday. Stock traders purchased 42,982 put options on the stock. This is an increase of 191% compared to the typical daily volume of 14,760 put options.

ON News Summary

Here are the key news stories impacting ON this week:

• Positive Sentiment: Kylian Mbappé partnership boosts global visibility. On signed French football superstar Kylian Mbappé, marking a major expansion into football and giving the Swiss footwear company a prominent international ambassador. The deal is viewed as a competitive win against Nike and could support brand awareness, product sales and long-term growth. On Holding Stock Jumps as Swiss Sneaker Company Enters Football With Mbappé, Henry
• Positive Sentiment: Analysts continue to endorse the shares. Needham reaffirmed a “Buy” rating with a $37 price target, implying substantial upside from recent levels. BTIG Research and Berenberg Bank also issued or maintained “Buy” ratings, supporting the bullish case despite the stock’s recent weakness. Needham Reaffirms Buy Rating on On Holding ON Earns Buy Rating from BTIG Research
• Neutral Sentiment: Investor attention is elevated. Trading volume has been substantially above average, suggesting heightened interest around the Mbappé announcement and the stock’s technical weakness. However, elevated activity alone does not establish a lasting change in sentiment.
• Negative Sentiment: Operating concerns remain the main overhang. On Holding’s recent three-month slide reflects weak Americas wholesale trends and cautious retailer sell-in, even as direct-to-consumer sales and new product launches provide support. The company’s latest quarterly results also missed consensus estimates for both earnings and revenue. On Holding Stock Falls 30% in Three Months
• Negative Sentiment: Bearish options positioning signals caution. Traders purchased 42,982 put options, roughly 191% above the average daily volume, while the shares recently traded near two-year lows. This activity indicates that some investors are positioning for additional downside or protecting existing holdings. 3 Stocks Put Traders Are Targeting Today

Analysts Set New Price Targets

ONON has been the subject of several analyst reports. Evercore set a $40.00 target price on ON in a research note on Wednesday, August 12th. William Blair lowered shares of ON from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Robert W. Baird cut their price target on shares of ON from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Guggenheim set a $42.00 price target on shares of ON in a report on Friday, September 11th. Finally, KeyCorp restated an “overweight” rating on shares of ON in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.92.

Insider Activity

In other news, insider Olivier Bernhard bought 65,000 shares of the stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the insider owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. The trade was a 1.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Caspar Coppetti purchased 65,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the acquisition, the chief executive officer directly owned 2,440,855 shares in the company, valued at $74,861,022.85. The trade was a 2.74% increase in their position. The SEC filing for this purchase provides additional information. 68.57% of the stock is owned by company insiders.

Institutional Trading of ON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of ON by 2.8% in the fourth quarter. Parallel Advisors LLC now owns 10,455 shares of the company’s stock valued at $486,000 after acquiring an additional 285 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $26,000 after purchasing an additional 312 shares in the last quarter. Americana Partners LLC boosted its stake in ON by 4.6% during the 4th quarter. Americana Partners LLC now owns 7,496 shares of the company’s stock valued at $348,000 after purchasing an additional 331 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of ON by 0.6% during the 1st quarter. Wesbanco Bank Inc. now owns 69,703 shares of the company’s stock valued at $2,371,000 after purchasing an additional 400 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in shares of ON by 109.9% in the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Trading Down 0.3%

ON stock opened at $27.25 on Friday. ON has a 1 year low of $26.36 and a 1 year high of $51.08. The firm’s 50-day moving average is $32.45 and its 200-day moving average is $35.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. The company has a market cap of $17.39 billion, a P/E ratio of 18.54, a PEG ratio of 0.55 and a beta of 2.08.

ON (NYSE:ONON) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). ON had a return on equity of 22.92% and a net margin of 12.09%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company earned ($0.09) EPS. ON’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts expect that ON will post 1.49 earnings per share for the current year.

ON Company Profile

On Holding AG, known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company is particularly recognized for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and Speedboard components designed to support comfort, responsiveness and energy return.

On serves athletes and consumers across categories including running, outdoor activities, training and everyday performance. Its products are sold through the company’s direct-to-consumer channels, including its website and branded retail stores, as well as through a network of wholesale partners in markets around the world.

On was founded in 2010 in Switzerland by Olivier Bernhard, David Allemann and Caspar Coppetti.