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

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cooper Creek Partners Management LLC increased its holdings in shares of O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company’s stock worth $120,132,000 after buying an additional 1,705,216 shares in the last quarter. FMR LLC increased its holdings in shares of O-I Glass by 6.9% during the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company’s stock worth $108,990,000 after buying an additional 647,237 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of O-I Glass by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company’s stock worth $80,749,000 after buying an additional 617,460 shares in the last quarter. Highland Peak Capital LLC increased its holdings in shares of O-I Glass by 87.5% during the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company’s stock worth $42,029,000 after buying an additional 1,809,237 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of O-I Glass by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock worth $46,827,000 after buying an additional 37,238 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Trading Up 10.5 %

Shares of OI stock opened at $11.75 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78. The stock has a market cap of $1.81 billion, a P/E ratio of -16.54, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. The stock has a 50 day simple moving average of $11.08 and a 200 day simple moving average of $11.93. O-I Glass has a 1 year low of $9.85 and a 1 year high of $17.58.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. On average, research analysts predict that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OI shares. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup decreased their target price on O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America upped their target price on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.38.

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.