Traders Buy High 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, more than 11 times the stock’s average daily call volume.
• Shares of O-I Glass were slightly higher at $9.69, but the company is still trading well below its 200-day moving average and has a market value of about $1.48 billion.
• The company recently missed earnings estimates, reporting $0.05 EPS versus $0.09 expected, even though revenue topped forecasts; analysts currently rate the stock a consensus Hold with a $15.14 target price.

O-I Glass, Inc. (NYSE:OI - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders bought 10,026 call options on the company. This is an increase of 1,104% compared to the average daily volume of 833 call options.

O-I Glass Stock Up 0.6%

Shares of NYSE OI traded up $0.06 during mid-day trading on Wednesday, reaching $9.69. 986,688 shares of the company's stock were exchanged, compared to its average volume of 2,471,899. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.94, a PEG ratio of 1.10 and a beta of 0.63. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The business has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $11.99. O-I Glass has a twelve month low of $7.75 and a twelve month high of $16.91.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on OI. UBS Group reduced their price objective on shares of O-I Glass from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Royal Bank Of Canada set a $14.00 price objective on O-I Glass in a report on Friday, April 17th. Citigroup reduced their target price on O-I Glass from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Zacks Research downgraded shares of O-I Glass from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 3rd. Finally, 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. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.14.

Insider Buying and Selling

In other news, SVP Eduardo Restrepo purchased 3,309 shares of O-I Glass stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $8.98 per share, for a total transaction of $29,714.82. Following the completion of the transaction, the senior vice president directly owned 94,199 shares in the company, valued at approximately $845,907.02. This represents a 3.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randolph L. Burns purchased 11,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $9.32 per share, with a total value of $102,520.00. Following the acquisition, the senior vice president owned 133,932 shares of the company's stock, valued at $1,248,246.24. This represents a 8.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 17,083 shares of company stock valued at $157,312 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On O-I Glass

A number of hedge funds and other institutional investors have recently bought and sold shares of OI. Farther Finance Advisors LLC grew its position in O-I Glass by 87.6% in 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. Optiver Holding B.V. raised its holdings in shares of O-I Glass by 491.5% in the 1st quarter. Optiver Holding B.V. now owns 2,496 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 2,074 shares during the period. Headlands Technologies LLC bought a new position in shares of O-I Glass during the 2nd quarter worth approximately $29,000. Quarry LP acquired a new position in shares of O-I Glass in the fourth quarter valued at $32,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of O-I Glass by 36,533.3% during 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 acquiring an additional 2,192 shares during the period. Institutional investors and hedge funds own 97.24% of the company's stock.

About O-I Glass

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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