Stock Traders Buy High Volume of O-I Glass Call Options (NYSE:OI)

O-I Glass, Inc. (NYSE:OI - Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders purchased 2,354 call options on the company. This represents an increase of 3,039% compared to the typical volume of 75 call options.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a report on Monday, March 17th. Truist Financial restated a "buy" rating and issued a $16.00 price objective (up from $13.00) on shares of O-I Glass in a report on Thursday, May 1st. Citigroup increased their target price on shares of O-I Glass from $11.00 to $14.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Barclays boosted their price target on shares of O-I Glass from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen raised O-I Glass from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, O-I Glass has a consensus rating of "Moderate Buy" and a consensus target price of $15.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Highland Peak Capital LLC lifted its position in O-I Glass by 87.5% during the fourth quarter. Highland Peak Capital LLC now owns 3,877,259 shares of the industrial products company's stock valued at $42,029,000 after buying an additional 1,809,237 shares during the period. Cooper Creek Partners Management LLC lifted its position in 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 valued at $120,132,000 after acquiring an additional 1,705,216 shares during the period. Millennium Management LLC boosted its stake in O-I Glass by 251.7% during 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. purchased a new stake in O-I Glass in the fourth quarter worth about $10,885,000. Finally, MetLife Investment Management LLC increased its stake in shares of O-I Glass by 1,043.3% during the first quarter. MetLife Investment Management LLC now owns 1,074,764 shares of the industrial products company's stock valued at $12,328,000 after purchasing an additional 980,758 shares in the last quarter. Hedge funds and other institutional investors own 97.24% of the company's stock.

O-I Glass Trading Down 2.0%

NYSE:OI traded down $0.28 during midday trading on Thursday, reaching $13.73. 1,223,285 shares of the stock traded hands, compared to its average volume of 1,549,373. The stock has a market capitalization of $2.12 billion, a P/E ratio of -19.34, a PEG ratio of 0.24 and a beta of 0.96. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.70 and a current ratio of 1.15. The company has a fifty day moving average of $12.40 and a 200 day moving average of $11.71. O-I Glass has a 12 month low of $9.23 and a 12 month high of $14.34.

O-I Glass (NYSE:OI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. O-I Glass's revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. On average, research analysts predict that O-I Glass will post 1.33 EPS for the current 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.