Boothbay Fund Management LLC Sells 234,617 Shares of O-I Glass, Inc. $OI

Key Points

• Boothbay Fund Management reduced its O-I Glass stake by 29.2% in the fourth quarter, selling 234,617 shares and leaving it with 568,412 shares worth about $8.39 million.
• Insider buying picked up recently, with SVPs Randolph L. Burns and Eduardo Restrepo purchasing shares in May; insiders bought 17,083 shares total last quarter.
• Wall Street sentiment is mixed to cautious: analysts’ consensus rating is “Hold” with an average price target of $15.50, while O-I Glass last traded at $9.06 after reporting quarterly EPS below estimates despite revenue topping forecasts.

Boothbay Fund Management LLC lowered its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 29.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 568,412 shares of the industrial products company's stock after selling 234,617 shares during the quarter. Boothbay Fund Management LLC owned about 0.37% of O-I Glass worth $8,390,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of OI. Vanguard Group Inc. boosted its position in shares of O-I Glass by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,349,218 shares of the industrial products company's stock worth $250,959,000 after purchasing an additional 691,989 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of O-I Glass by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,509,444 shares of the industrial products company's stock worth $125,600,000 after purchasing an additional 277,205 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of O-I Glass by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 7,996,786 shares of the industrial products company's stock worth $103,718,000 after purchasing an additional 56,945 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of O-I Glass by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,783,387 shares of the industrial products company's stock worth $55,852,000 after purchasing an additional 22,430 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of O-I Glass by 288.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,215,632 shares of the industrial products company's stock worth $47,463,000 after purchasing an additional 2,388,299 shares in the last quarter. Institutional investors own 97.24% of the company's stock.

Insider Activity at O-I Glass

In other O-I Glass news, SVP Randolph L. Burns purchased 11,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average price of $9.32 per share, with a total value of $102,520.00. Following the transaction, the senior vice president owned 133,932 shares in the company, valued at $1,248,246.24. The trade was a 8.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eduardo Restrepo purchased 3,309 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the transaction, the senior vice president owned 94,199 shares in the company, valued at $845,907.02. This represents a 3.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 17,083 shares of company stock valued at $157,312. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OI shares. Royal Bank Of Canada set a $14.00 price objective on shares of O-I Glass in a research report on Friday, April 17th. Wells Fargo & Company cut shares of O-I Glass from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $18.00 to $13.00 in a research report on Friday, March 20th. Truist Financial reissued a "buy" rating and set a $14.00 price objective (down from $15.00) on shares of O-I Glass in a research report on Thursday, April 30th. Weiss Ratings raised shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 11th. Finally, UBS Group cut their price objective on shares of O-I Glass from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $15.50.

O-I Glass Price Performance

Shares of NYSE OI opened at $9.06 on Thursday. O-I Glass, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $16.91. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -7.42, a PEG ratio of 1.03 and a beta of 0.63. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.73 and a current ratio of 1.26. The firm's 50-day simple moving average is $9.35 and its 200 day simple moving average is $12.28.

O-I Glass (NYSE:OI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business posted $0.40 EPS. O-I Glass's revenue was down 1.7% compared to the same quarter last year. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. As a group, research analysts anticipate that O-I Glass, Inc. will post 1.2 earnings per share for the current fiscal year.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.

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