O-I Glass, Inc. $OI Shares Sold by Jump Financial LLC

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 cut its stake in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 70.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,407 shares of the industrial products company's stock after selling 61,243 shares during the quarter. Jump Financial LLC's holdings in O-I Glass were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OI. GAMMA Investing LLC lifted its position in shares of O-I Glass by 79.3% during the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,142 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of O-I Glass in the 1st quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in O-I Glass during the 1st quarter worth about $85,000. Point72 Asset Management L.P. purchased a new position in shares of O-I Glass in the 4th quarter worth approximately $89,000. Finally, CWM LLC increased its holdings in shares of O-I Glass by 623.9% in the first quarter. CWM LLC now owns 8,390 shares of the industrial products company's stock worth $96,000 after purchasing an additional 7,231 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

Insider Activity

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

O-I Glass Stock Performance

Shares of OI stock traded up $0.01 on Monday, reaching $12.78. The stock had a trading volume of 447,704 shares, compared to its average volume of 1,549,145. O-I Glass, Inc. has a 1 year low of $9.23 and a 1 year high of $16.04. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.77 and a current ratio of 1.24. The stock has a market cap of $1.97 billion, a P/E ratio of -7.76, a price-to-earnings-growth ratio of 0.25 and a beta of 0.93. The company has a 50 day simple moving average of $13.91 and a 200 day simple moving average of $12.90.

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

Analyst Ratings Changes

Several brokerages have recently commented on OI. Citigroup raised their price objective on shares of O-I Glass from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. UBS Group restated a "buy" rating and set a $19.00 price objective (up previously from $17.00) on shares of O-I Glass in a research report on Wednesday, July 9th. Wall Street Zen raised shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. BNP Paribas set a $18.00 target price on O-I Glass in a report on Wednesday, June 25th. Finally, BNP Paribas Exane began coverage on O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

O-I Glass 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.