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

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

Institutional Investors Weigh In On O-I Glass

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company’s stock worth $8,130,000 after buying an additional 94,671 shares during the period. Highland Peak Capital LLC bought a new stake in shares of O-I Glass during the third quarter worth $27,132,000. Barclays PLC raised its holdings in shares of O-I Glass by 349.3% during the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company’s stock worth $3,427,000 after acquiring an additional 203,037 shares during the period. Maverick Capital Ltd. bought a new stake in O-I Glass in the 3rd quarter valued at $1,264,000. Finally, Segall Bryant & Hamill LLC acquired a new position in O-I Glass in the 3rd quarter worth $32,350,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

O-I Glass Stock Down 0.1 %

NYSE:OI opened at $12.18 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The stock’s fifty day simple moving average is $11.29 and its 200-day simple moving average is $11.87. The firm has a market capitalization of $1.88 billion, a P/E ratio of -17.16, a P/E/G ratio of 0.24 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price target on O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 target price on shares of O-I Glass in a research note on Monday. Bank of America increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Citigroup dropped 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 note on Monday, January 6th. 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 stock has a consensus rating of “Moderate Buy” and a consensus price target 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.