GSA Capital Partners LLP Cuts Holdings in O-I Glass, Inc. (NYSE:OI)

Key Points

• GSA Capital Partners LLP has reduced its stake in O-I Glass, Inc. by 60%, owning 53,416 shares after selling 80,170 shares, valuing the holdings at approximately $613,000.
• Several institutional investors have increased their positions in O-I Glass, with Cooper Creek Partners Management LLC growing their stake by 18.2% and Millennium Management LLC boosting it by 251.7%.
• O-I Glass reported an earnings per share of $0.53 for the last quarter, exceeding analyst expectations of $0.41, despite a 1.3% year-over-year decline in revenue.

GSA Capital Partners LLP lowered its stake in O-I Glass, Inc. (NYSE:OI - Free Report) by 60.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,416 shares of the industrial products company's stock after selling 80,170 shares during the period. GSA Capital Partners LLP's holdings in O-I Glass were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cooper Creek Partners Management LLC lifted its holdings in shares of O-I Glass by 18.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock valued at $120,132,000 after purchasing an additional 1,705,216 shares during the last quarter. Millennium Management LLC boosted its holdings in O-I Glass by 251.7% in the fourth quarter. Millennium Management LLC now owns 1,458,102 shares of the industrial products company's stock worth $15,806,000 after acquiring an additional 1,043,570 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in O-I Glass in the fourth quarter worth $10,885,000. Boothbay Fund Management LLC grew its stake in shares of O-I Glass by 213.3% in the fourth quarter. Boothbay Fund Management LLC now owns 1,218,593 shares of the industrial products company's stock worth $13,210,000 after acquiring an additional 829,662 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of O-I Glass by 6.9% during the fourth quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock valued at $108,990,000 after acquiring an additional 647,237 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Stock Performance

NYSE:OI traded up $0.39 on Thursday, hitting $13.37. The stock had a trading volume of 704,948 shares, compared to its average volume of 1,568,394. O-I Glass, Inc. has a 52-week low of $9.23 and a 52-week high of $16.04. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -8.11, a price-to-earnings-growth ratio of 0.25 and a beta of 0.92. 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 business's 50-day simple moving average is $14.23 and its two-hundred day simple moving average is $12.64.

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 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 the consensus estimate of $1.70 billion. During the same period last year, the firm earned $0.44 earnings per share. The company's quarterly revenue was down 1.3% on a year-over-year basis. As a group, research analysts predict that O-I Glass, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on OI. 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. Wells Fargo & Company reiterated a "mixed" rating on shares of O-I Glass in a report on Monday. Truist Financial set a $21.00 price objective on shares of O-I Glass and gave the stock a "buy" rating in a report on Friday, July 11th. Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Finally, Citigroup lifted their target price on O-I Glass from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.