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

O-I Glass, Inc. (NYSE:OI) was the recipient of some unusual options trading on Wednesday. Investors bought 2,354 call options on the stock. This represents an increase of 3,039% compared to the typical daily volume of 75 call options.

O-I Glass Price Performance

Shares of NYSE OI opened at $12.89 on Thursday. O-I Glass has a 1 year low of $10.08 and a 1 year high of $17.58. The stock has a market capitalization of $2.01 billion, a P/E ratio of -8.11, a P/E/G ratio of 1.87 and a beta of 1.17. The company’s 50-day moving average is $12.32 and its 200 day moving average is $12.92. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.26 and a quick ratio of 0.75.

O-I Glass (NYSE:OI) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. On average, sell-side analysts expect that O-I Glass will post 1.13 earnings per share for the current year.

Insider Activity

In other O-I Glass news, Director John Humphrey purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $11.30 per share, with a total value of $169,500.00. Following the completion of the purchase, the director now owns 84,227 shares of the company’s stock, valued at approximately $951,765.10. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.49% of the company’s stock.

Hedge Funds Weigh In On O-I Glass

Several institutional investors and hedge funds have recently added to or reduced their stakes in OI. Newbridge Financial Services Group Inc. boosted its holdings in O-I Glass by 1,337.5% in the second 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. Fidelis Capital Partners LLC bought a new position in O-I Glass in the 1st quarter worth about $33,000. TFO Wealth Partners LLC boosted its stake in O-I Glass by 24,311.1% in the 4th quarter. TFO Wealth Partners LLC now owns 2,197 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,188 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in O-I Glass during the 1st quarter valued at about $38,000. Finally, Headlands Technologies LLC bought a new stake in O-I Glass during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

OI has been the subject of several recent research reports. Wells Fargo & Company dropped their price objective on O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. UBS Group dropped their price target on shares of O-I Glass from $26.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Barclays decreased their price objective on shares of O-I Glass from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird dropped their target price on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Finally, StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.63.

O-I Glass Company Profile

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.