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

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

O-I Glass Stock Performance

Shares of OI opened at $11.52 on Friday. The business’s fifty day moving average price is $11.08 and its 200 day moving average price is $11.96. O-I Glass has a 12-month low of $9.85 and a 12-month high of $17.58. The stock has a market capitalization of $1.78 billion, a PE ratio of -4.17 and a beta of 1.22. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. Equities research analysts forecast that O-I Glass will post 0.75 EPS for the current year.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in O-I Glass by 1.1% in the third quarter. Geode Capital Management LLC now owns 3,568,443 shares of the industrial products company’s stock valued at $46,827,000 after buying an additional 37,238 shares during the last quarter. Private Management Group Inc. lifted its stake in O-I Glass by 20.8% in the third quarter. Private Management Group Inc. now owns 3,025,731 shares of the industrial products company’s stock valued at $39,698,000 after buying an additional 520,452 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in O-I Glass in the third quarter valued at $32,350,000. Highland Peak Capital LLC bought a new stake in O-I Glass in the third quarter valued at $27,132,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in O-I Glass by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,848,857 shares of the industrial products company’s stock valued at $20,042,000 after buying an additional 25,719 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on OI shares. Royal Bank of Canada decreased their price target on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Bank of America raised their price target on shares of O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company decreased their price target 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. StockNews.com raised shares of O-I Glass from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Barclays decreased their price target 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.