O-I Glass Target of Unusually Large Options Trading (NYSE:OI)

O-I Glass, Inc. (NYSE:OI - Get Free Report) saw some unusual options trading on Wednesday. Investors acquired 2,354 call options on the company. This is an increase of approximately 3,039% compared to the typical daily volume of 75 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cooper Creek Partners Management LLC raised its position in shares of O-I Glass by 18.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 11,082,262 shares of the industrial products company's stock worth $120,132,000 after purchasing an additional 1,705,216 shares during the last quarter. FMR LLC grew its stake in O-I Glass by 6.9% in the 4th quarter. FMR LLC now owns 10,054,398 shares of the industrial products company's stock worth $108,990,000 after acquiring an additional 647,237 shares during the period. Dimensional Fund Advisors LP grew its stake in O-I Glass by 9.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,449,472 shares of the industrial products company's stock worth $80,749,000 after acquiring an additional 617,460 shares during the period. Segall Bryant & Hamill LLC grew its stake in O-I Glass by 31.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 3,242,750 shares of the industrial products company's stock worth $35,151,000 after acquiring an additional 777,036 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in O-I Glass by 6.0% in the 1st quarter. Levin Capital Strategies L.P. now owns 2,915,106 shares of the industrial products company's stock worth $33,436,000 after acquiring an additional 164,669 shares during the period. 97.24% of the stock is currently owned by institutional investors and hedge funds.

O-I Glass Price Performance

Shares of O-I Glass stock traded down $0.10 during trading on Friday, hitting $15.43. 1,214,524 shares of the company were exchanged, compared to its average volume of 1,523,914. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 3.83. O-I Glass has a fifty-two week low of $9.23 and a fifty-two week high of $16.04. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -12.25, a P/E/G ratio of 0.31 and a beta of 0.97. The firm has a 50 day moving average price of $13.99 and a 200 day moving average price of $12.21.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.48% and a negative net margin of 2.98%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.45 EPS. The company's quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts expect that O-I Glass will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BNP Paribas Exane assumed coverage on O-I Glass in a report on Wednesday, June 25th. They issued an "outperform" rating and a $18.00 price objective on the stock. Bank of America reiterated a "neutral" rating and set a $17.00 price target (up from $15.00) on shares of O-I Glass in a research report on Wednesday. Barclays lifted their price target on shares of O-I Glass from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Citigroup lifted their price target 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. Finally, BNP Paribas set a $18.00 price target on shares of O-I Glass in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, O-I Glass currently has a consensus rating of "Moderate Buy" and an average price target of $17.30.

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.