O-I Glass Sees Unusually Large Options Volume (NYSE:OI)

by · The Markets Daily

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

Insider Buying and Selling

In other news, SVP Darrow A. Abrahams purchased 3,828 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $13.05 per share, for a total transaction of $49,955.40. Following the completion of the acquisition, the senior vice president directly owned 184,447 shares in the company, valued at $2,407,033.35. This represents a 2.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gordon Hardie purchased 8,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $104,800.00. Following the acquisition, the chief executive officer owned 515,817 shares of the company’s stock, valued at approximately $6,757,202.70. The trade was a 1.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in O-I Glass by 2.3% in the first quarter. Principal Financial Group Inc. now owns 767,260 shares of the industrial products company’s stock worth $8,800,000 after acquiring an additional 17,254 shares during the period. SG Americas Securities LLC raised its position in O-I Glass by 117.7% in the first quarter. SG Americas Securities LLC now owns 45,766 shares of the industrial products company’s stock worth $525,000 after acquiring an additional 24,743 shares during the period. American Century Companies Inc. raised its position in O-I Glass by 11.0% in the first quarter. American Century Companies Inc. now owns 326,153 shares of the industrial products company’s stock worth $3,741,000 after acquiring an additional 32,339 shares during the period. GAMMA Investing LLC raised its position in O-I Glass by 79.3% in the first quarter. GAMMA Investing LLC now owns 2,583 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,142 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in O-I Glass in the first quarter worth approximately $658,000. 97.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on OI. Wall Street Zen cut shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Wells Fargo & Company reiterated a “mixed” rating on shares of O-I Glass in a report on Monday, August 4th. Bank of America restated a “neutral” rating and issued a $17.00 target price (up previously from $15.00) on shares of O-I Glass in a report on Wednesday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of O-I Glass in a report on Wednesday, October 8th. Finally, BNP Paribas Exane started coverage on shares of O-I Glass in a report on Wednesday, June 25th. They issued an “outperform” rating and a $18.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.56.

View Our Latest Report on O-I Glass

O-I Glass Trading Up 2.5%

Shares of OI stock opened at $12.07 on Friday. O-I Glass has a 12-month low of $9.23 and a 12-month high of $16.04. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 3.58. The firm’s 50 day moving average is $12.83 and its 200 day moving average is $13.09. The stock has a market capitalization of $1.86 billion, a P/E ratio of -7.32, a P/E/G ratio of 0.22 and a beta of 0.93.

O-I Glass (NYSE:OI – Get Free Report) last released its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.36 earnings per share for the quarter. O-I Glass had a negative net margin of 3.95% and a positive return on equity of 13.70%. The business had revenue of $1.59 billion for the quarter. Research analysts expect that O-I Glass will post 1.33 earnings per share for the current year.

About O-I Glass

(Get Free Report)

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.

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