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

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in shares of O-I Glass by 35.3% during the 2nd quarter. American Century Companies Inc. now owns 213,392 shares of the industrial products company’s stock valued at $2,375,000 after buying an additional 55,701 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 valued at $78,952,000 after buying an additional 573,300 shares in the last quarter. Sei Investments Co. lifted its stake in shares of O-I Glass by 18.0% during the 2nd quarter. Sei Investments Co. now owns 78,982 shares of the industrial products company’s stock valued at $879,000 after buying an additional 12,034 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of O-I Glass by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 342,627 shares of the industrial products company’s stock valued at $3,813,000 after buying an additional 25,477 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of O-I Glass during the 2nd quarter valued at approximately $2,551,000. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

O-I Glass Trading Up 0.7 %

Shares of OI stock opened at $10.80 on Thursday. O-I Glass has a 52-week low of $9.85 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23. The company has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $11.93. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.91 and a beta of 1.21.

O-I Glass (NYSE:OI) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm 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 9.16% and a negative net margin of 6.34%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. Research analysts anticipate that O-I Glass will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OI has been the topic of several research reports. Bank of America upped their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada dropped their price objective on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company decreased their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Barclays decreased their target price on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup decreased their target price on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.38.

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.