GSA Capital Partners LLP Has $613,000 Stock Position 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 lessened its holdings in shares of O-I Glass, Inc. (NYSE:OI - Free Report) by 60.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of O-I Glass by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. SummerHaven Investment Management LLC grew its position in O-I Glass by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 75,226 shares of the industrial products company's stock worth $863,000 after purchasing an additional 1,204 shares during the last quarter. Baird Financial Group Inc. grew its position in O-I Glass by 9.6% in the 4th quarter. Baird Financial Group Inc. now owns 16,152 shares of the industrial products company's stock worth $175,000 after purchasing an additional 1,410 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of O-I Glass by 9.9% during the fourth quarter. Guggenheim Capital LLC now owns 22,777 shares of the industrial products company's stock valued at $247,000 after purchasing an additional 2,044 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of O-I Glass by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,096 shares of the industrial products company's stock valued at $955,000 after purchasing an additional 3,016 shares in the last quarter. Institutional investors own 97.24% of the company's stock.

Analysts Set New Price Targets

OI has been the topic of several recent analyst reports. BNP Paribas set a $18.00 price target on O-I Glass in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of O-I Glass from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Bank of America reiterated a "neutral" rating and set a $17.00 price target (up previously from $15.00) on shares of O-I Glass in a research report on Wednesday, July 9th. BNP Paribas Exane assumed coverage on shares of O-I Glass in a research report on Wednesday, June 25th. They set an "outperform" rating and a $18.00 price target for the company. Finally, Truist Financial set a $21.00 price target on shares of O-I Glass and gave the stock a "buy" rating in a research report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

O-I Glass Price Performance

Shares of OI stock traded up $0.06 on Tuesday, reaching $13.00. The company had a trading volume of 1,327,444 shares, compared to its average volume of 1,963,344. The stock has a market capitalization of $2.00 billion, a PE ratio of -7.88, 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. O-I Glass, Inc. has a one year low of $9.23 and a one year high of $16.04. The business's 50-day moving average is $14.23 and its 200 day moving average is $12.63.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.12. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. Equities research analysts forecast that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

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.