O-I Glass Sees Unusually High Options Volume (NYSE:OI)

O-I Glass, Inc. (NYSE:OIGet Free Report) was the recipient of some unusual options trading on Wednesday. Traders acquired 2,354 call options on the company. This represents an increase of 3,039% compared to the average daily volume of 75 call options.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, Director John Humphrey purchased 15,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $11.30 per share, with a total value of $169,500.00. Following the acquisition, the director now directly owns 84,227 shares of the company’s stock, valued at $951,765.10. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.49% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Levin Capital Strategies L.P. raised its position in O-I Glass by 66.0% in the first quarter. Levin Capital Strategies L.P. now owns 2,808,105 shares of the industrial products company’s stock valued at $46,586,000 after purchasing an additional 1,116,340 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in O-I Glass in the 1st quarter valued at approximately $14,603,000. Dimensional Fund Advisors LP boosted its position in O-I Glass by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,093,723 shares of the industrial products company’s stock worth $78,952,000 after buying an additional 573,300 shares during the period. Private Management Group Inc. grew its holdings in O-I Glass by 20.8% during the 3rd quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock worth $39,698,000 after acquiring an additional 520,452 shares during the last quarter. Finally, Millennium Management LLC increased its position in O-I Glass by 27.5% in the 2nd quarter. Millennium Management LLC now owns 1,965,426 shares of the industrial products company’s stock valued at $21,875,000 after acquiring an additional 424,102 shares during the period. 97.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays dropped their price target on O-I Glass from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $16.00 target price (down previously from $17.00) on shares of O-I Glass in a report on Thursday, August 1st. UBS Group dropped their target price on O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Citigroup lifted their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.63.

Get Our Latest Research Report on O-I Glass

O-I Glass Stock Down 7.2 %

OI stock opened at $11.55 on Thursday. The company has a market cap of $1.80 billion, a PE ratio of -7.26 and a beta of 1.17. The business has a 50-day simple moving average of $12.73 and a 200 day simple moving average of $12.48. O-I Glass has a 52 week low of $10.08 and a 52 week high of $17.58. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85.

O-I Glass (NYSE:OIGet Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.07). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. Sell-side analysts anticipate that O-I Glass will post 1.11 EPS for the current fiscal year.

About O-I Glass

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O-I Glass, Inc, through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine.

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