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

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

Institutional Investors Weigh In On O-I Glass

A number of large investors have recently modified their holdings of OI. Wealthedge Investment Advisors LLC acquired a new stake in O-I Glass in the fourth quarter valued at approximately $241,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in O-I Glass in the fourth quarter valued at about $2,573,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of O-I Glass by 30.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 365,630 shares of the industrial products company’s stock valued at $3,963,000 after purchasing an additional 84,380 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of O-I Glass by 44.4% during the fourth quarter. Two Sigma Investments LP now owns 710,216 shares of the industrial products company’s stock worth $7,699,000 after purchasing an additional 218,381 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of O-I Glass in the fourth quarter valued at approximately $89,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OI. Wells Fargo & Company dropped their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Citigroup decreased their price target on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America increased their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.38.

O-I Glass Trading Down 0.1 %

OI opened at $12.18 on Thursday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -17.16, a P/E/G ratio of 0.24 and a beta of 1.20. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 3.78. O-I Glass has a twelve month low of $9.85 and a twelve month high of $17.58. The company has a 50-day simple moving average of $11.29 and a 200 day simple moving average of $11.87.

O-I Glass (NYSE:OI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. O-I Glass had a negative net margin of 1.62% and a positive return on equity of 8.27%. Analysts predict that O-I Glass will post 1.33 EPS for the current fiscal year.

O-I Glass Company Profile

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.