Stock Traders Purchase High Volume of O-I Glass Call Options (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 2,354 call options on the stock. This is an increase of approximately 3,039% compared to the average volume of 75 call options.

O-I Glass Trading Down 7.2 %

OI stock opened at $11.55 on Thursday. 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 has a twelve month low of $10.08 and a twelve month high of $17.58. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -7.26 and a beta of 1.17. The firm’s fifty day simple moving average is $12.73 and its two-hundred day simple moving average is $12.48.

O-I Glass (NYSE:OI) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.07). The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, analysts anticipate that O-I Glass will post 1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays lowered their target price on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada decreased their price target on shares of O-I Glass from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of O-I Glass in a research note on Thursday, August 1st. Finally, UBS Group decreased their price target on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.63.

Insider Buying and Selling at O-I Glass

In related news, Director John Humphrey bought 15,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $11.30 per share, with a total value of $169,500.00. Following the completion of the acquisition, the director now owns 84,227 shares of the company’s stock, valued at $951,765.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in shares of O-I Glass in the third quarter worth about $27,000. Newbridge Financial Services Group Inc. grew its holdings in O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 2,675 shares in the last quarter. GAMMA Investing LLC grew its holdings in O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,892 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in O-I Glass during the 1st quarter worth about $33,000. Finally, FinTrust Capital Advisors LLC bought a new position in O-I Glass during the 1st quarter worth about $38,000. 97.24% of the stock is currently owned by institutional investors.

About O-I Glass

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.