Crestline Management LP Buys Shares of 45,412 O-I Glass, Inc. (NYSE:OI)

Crestline Management LP bought a new stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 45,412 shares of the industrial products company's stock, valued at approximately $492,000.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of O-I Glass in the 4th quarter worth about $45,000. Sterling Capital Management LLC lifted its stake in O-I Glass by 807.2% during the 4th quarter. Sterling Capital Management LLC now owns 4,881 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 4,343 shares during the period. KBC Group NV lifted its stake in shares of O-I Glass by 42.5% in the 4th quarter. KBC Group NV now owns 7,740 shares of the industrial products company's stock worth $84,000 after purchasing an additional 2,309 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of O-I Glass in the 4th quarter worth approximately $86,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of O-I Glass in the 4th quarter worth approximately $107,000. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Stock Down 0.1%

Shares of NYSE:OI traded down $0.01 on Wednesday, reaching $13.77. The company had a trading volume of 1,049,425 shares, compared to its average volume of 1,574,481. O-I Glass, Inc. has a twelve month low of $9.23 and a twelve month high of $14.34. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. The stock has a market capitalization of $2.13 billion, a P/E ratio of -19.39, a P/E/G ratio of 0.24 and a beta of 0.93. The stock has a 50-day moving average price of $11.74 and a 200 day moving average price of $11.59.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. The business had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.55 billion. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The firm's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. On average, equities analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $16.00 price target on shares of O-I Glass in a research report on Monday, March 17th. Truist Financial restated a "buy" rating and issued a $16.00 price objective (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Barclays lifted their price objective on O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Citigroup boosted their price target on O-I Glass from $11.00 to $14.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.88.

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.