MYDA Advisors LLC Purchases 222,620 Shares of O-I Glass, Inc. $OI

Key Points

• MYDA Advisors LLC increased its stake in O-I Glass by 318% in the fourth quarter, buying 222,620 additional shares and bringing its total to 292,620 shares worth about $4.3 million.
• Several insiders and institutional investors also added to their positions, including SVPs Randolph L. Burns and Eduardo Restrepo, while institutional ownership of O-I Glass remains very high at 97.24%.
• O-I Glass recently missed earnings estimates with Q1 EPS of $0.05 versus $0.09 expected, even though revenue came in above forecasts; analysts currently have a consensus Hold rating with a $15.50 price target.

MYDA Advisors LLC boosted its position in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 318.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 292,620 shares of the industrial products company's stock after buying an additional 222,620 shares during the quarter. O-I Glass makes up about 0.8% of MYDA Advisors LLC's holdings, making the stock its 29th biggest holding. MYDA Advisors LLC owned about 0.19% of O-I Glass worth $4,319,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OI. Farther Finance Advisors LLC raised its holdings in O-I Glass by 87.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company's stock worth $26,000 after purchasing an additional 830 shares in the last quarter. Headlands Technologies LLC purchased a new stake in O-I Glass in the second quarter worth about $29,000. Quarry LP purchased a new stake in O-I Glass in the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd lifted its holdings in O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company's stock worth $32,000 after buying an additional 2,192 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company's stock worth $35,000 after buying an additional 918 shares during the period. 97.24% of the stock is currently owned by institutional investors.

Insider Transactions at O-I Glass

In related news, SVP Randolph L. Burns purchased 11,000 shares of O-I Glass stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the completion of the purchase, the senior vice president directly owned 133,932 shares of the company's stock, valued at $1,248,246.24. The trade was a 8.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Eduardo Restrepo purchased 3,309 shares of O-I Glass stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $8.98 per share, with a total value of $29,714.82. Following the completion of the purchase, the senior vice president directly owned 94,199 shares of the company's stock, valued at approximately $845,907.02. This trade represents a 3.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 17,083 shares of company stock worth $157,312 over the last three months. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen lowered shares of O-I Glass from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Wells Fargo & Company lowered shares of O-I Glass from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $18.00 to $13.00 in a report on Friday, March 20th. Weiss Ratings upgraded shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. UBS Group lowered their price objective on shares of O-I Glass from $21.00 to $18.00 and set a "buy" rating for the company in a report on Friday, April 10th. Finally, Truist Financial restated a "buy" rating and issued a $14.00 price objective (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.50.

O-I Glass Stock Down 0.1%

NYSE:OI opened at $9.16 on Monday. The firm has a market cap of $1.40 billion, a P/E ratio of -7.51, a P/E/G ratio of 1.05 and a beta of 0.64. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.73 and a current ratio of 1.26. O-I Glass, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $16.91. The firm has a 50-day simple moving average of $9.42 and a two-hundred day simple moving average of $12.37.

O-I Glass (NYSE:OI - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The firm's revenue for the quarter 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. Analysts predict that O-I Glass, Inc. will post 1.2 earnings per share for the current fiscal year.

O-I Glass 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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