Investors Buy Large Volume of Call Options on O-I Glass (NYSE:OI)

Key Points

• Unusually heavy call option buying hit O-I Glass, with traders purchasing 10,026 call contracts on Wednesday, a jump of 1,104% above the typical daily volume of 833.
• Company insiders were buying shares, including SVP Eduardo Restrepo and SVP Randolph L. Burns, who together boosted their ownership through recent open-market purchases.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $15.14, while O-I Glass also posted mixed quarterly results by missing EPS estimates but beating revenue expectations.

O-I Glass, Inc. (NYSE:OI - Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders acquired 10,026 call options on the stock. This represents an increase of 1,104% compared to the typical daily volume of 833 call options.

Insiders Place Their Bets

In related news, SVP Eduardo Restrepo acquired 3,309 shares of the 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 transaction, the senior vice president directly owned 94,199 shares of the company's stock, valued at approximately $845,907.02. The trade was a 3.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Randolph L. Burns purchased 11,000 shares of the company's stock in a transaction on 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 purchase, the senior vice president directly owned 133,932 shares in the company, valued at approximately $1,248,246.24. This trade represents a 8.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 17,083 shares of company stock worth $157,312 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of O-I Glass by 87.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 830 shares in the last quarter. Headlands Technologies LLC bought a new stake in O-I Glass during the 2nd quarter valued at about $29,000. Quarry LP purchased a new position in O-I Glass in the 4th quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 purchasing an additional 2,192 shares during the last quarter. Finally, State of Wyoming purchased a new position in O-I Glass in the 2nd quarter worth about $35,000. Institutional investors own 97.24% of the company's stock.

Wall Street Analyst Weigh In

OI has been the topic of several research analyst reports. Zacks Research lowered shares of O-I Glass from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 3rd. Weiss Ratings raised shares of O-I Glass from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 11th. Royal Bank Of Canada set a $14.00 price target on shares of O-I Glass in a report on Friday, April 17th. Wells Fargo & Company cut shares of O-I Glass from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $18.00 to $13.00 in a research report on Friday, March 20th. Finally, Truist Financial reiterated a "buy" rating and issued a $14.00 target price (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $15.14.

O-I Glass Stock Performance

Shares of NYSE OI traded up $0.06 during trading on Wednesday, reaching $9.69. 986,688 shares of the stock traded hands, compared to its average volume of 2,471,899. The stock has a market capitalization of $1.48 billion, a P/E ratio of -7.94, a price-to-earnings-growth ratio of 1.10 and a beta of 0.63. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.26 and a quick ratio of 0.73. The company has a 50-day moving average of $9.12 and a 200-day moving average of $11.99. O-I Glass has a 52-week low of $7.75 and a 52-week high of $16.91.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.47 billion. O-I Glass had a negative net margin of 2.91% and a positive return on equity of 13.65%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. Analysts forecast that O-I Glass will post 1.2 EPS for the current fiscal year.

O-I Glass Company 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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