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. Stock investors purchased 2,354 call options on the stock. This represents an increase of 3,039% compared to the average volume of 75 call options.

Insiders Place Their Bets

In other O-I Glass news, Director John Humphrey bought 15,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $11.30 per share, for a total transaction of $169,500.00. Following the acquisition, the director now directly owns 84,227 shares in the company, valued at approximately $951,765.10. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On O-I Glass

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co grew its stake in shares of O-I Glass by 15.1% during the 1st quarter. Diversified Trust Co now owns 45,772 shares of the industrial products company’s stock worth $759,000 after purchasing an additional 6,020 shares during the period. Leeward Investments LLC MA grew its stake in shares of O-I Glass by 36.0% during the 1st quarter. Leeward Investments LLC MA now owns 623,129 shares of the industrial products company’s stock worth $10,338,000 after purchasing an additional 165,103 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of O-I Glass during the 1st quarter worth approximately $33,000. Hartree Partners LP acquired a new stake in shares of O-I Glass during the 1st quarter worth approximately $4,911,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of O-I Glass during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $16.00 in a research report on Thursday, October 17th. 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 for the company in a research report on Monday, August 5th. UBS Group decreased 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. Citigroup increased their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of O-I Glass from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. 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.com, O-I Glass has an average rating of “Moderate Buy” and an average price target of $16.63.

O-I Glass Price Performance

Shares of NYSE:OI opened at $11.55 on Thursday. O-I Glass has a twelve month low of $10.08 and a twelve month high of $17.58. The company’s 50 day moving average is $12.73 and its 200 day moving average is $12.48. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 2.85. The company has a market cap of $1.80 billion, a PE ratio of -7.26 and a beta of 1.17.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.07). O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company posted $0.80 EPS. O-I Glass’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that O-I Glass will post 1.11 EPS for the current year.

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.