Jump Financial LLC Sells 61,243 Shares of O-I Glass, Inc. $OI

Key Points

• Jump Financial LLC significantly reduced its stake in O-I Glass, Inc. by 70.7%, leaving it with 25,407 shares valued at approximately $291,000.
• CEO Gordon Hardie and SVP Darrow A. Abrahams both purchased shares of the company, demonstrating insider confidence as Hardie increased his holdings by 1.58% and Abrahams by 2.12%.
• O-I Glass reported a quarterly earnings per share of $0.53, surpassing analysts’ expectations and demonstrating resilience despite a 1.3% decline in revenue year-over-year.

Jump Financial LLC lowered its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 70.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,407 shares of the industrial products company's stock after selling 61,243 shares during the period. Jump Financial LLC's holdings in O-I Glass were worth $291,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of O-I Glass by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company's stock valued at $8,800,000 after acquiring an additional 17,254 shares during the last quarter. SG Americas Securities LLC boosted its stake in O-I Glass by 117.7% during the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company's stock worth $525,000 after buying an additional 24,743 shares during the period. American Century Companies Inc. boosted its stake in O-I Glass by 11.0% during the first quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company's stock worth $3,741,000 after buying an additional 32,339 shares during the period. Northern Trust Corp boosted its stake in shares of O-I Glass by 8.5% during the fourth quarter. Northern Trust Corp now owns 1,738,277 shares of the industrial products company's stock valued at $18,843,000 after purchasing an additional 135,989 shares during the period. Finally, GAMMA Investing LLC lifted its stake in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,142 shares during the period. 97.24% of the stock is currently owned by institutional investors.

O-I Glass Stock Performance

OI stock traded down $0.10 during trading on Tuesday, reaching $12.86. 103,504 shares of the company's stock were exchanged, compared to its average volume of 1,544,410. O-I Glass, Inc. has a 1-year low of $9.23 and a 1-year high of $16.04. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 3.58. The company's fifty day moving average price is $13.88 and its 200-day moving average price is $12.92. The firm has a market cap of $1.98 billion, a PE ratio of -7.81, a P/E/G ratio of 0.25 and a beta of 0.93.

O-I Glass (NYSE:OI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.12. O-I Glass had a positive return on equity of 13.70% and a negative net margin of 3.95%.The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. O-I Glass has set its FY 2025 guidance at 1.300-1.55 EPS. On average, research analysts expect that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at O-I Glass

In other O-I Glass news, CEO Gordon Hardie purchased 8,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $13.10 per share, with a total value of $104,800.00. Following the completion of the transaction, the chief executive officer owned 515,817 shares of the company's stock, valued at approximately $6,757,202.70. This represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Darrow A. Abrahams acquired 3,828 shares of the stock in a transaction dated Tuesday, August 5th. The shares were bought at an average cost of $13.05 per share, for a total transaction of $49,955.40. Following the acquisition, the senior vice president owned 184,447 shares in the company, valued at $2,407,033.35. The trade was a 2.12% increase in their position. The disclosure for this purchase can be found here. 1.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OI has been the topic of several research reports. Citigroup increased their price target on shares of O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Bank of America reissued a "neutral" rating and set a $17.00 price objective (up from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Truist Financial set a $21.00 target price on O-I Glass and gave the company a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company restated a "mixed" rating on shares of O-I Glass in a research note on Monday, August 4th. Finally, BNP Paribas Exane assumed coverage on O-I Glass in a report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

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.