O-I Glass, Inc. (NYSE:OI) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its position in shares of O-I Glass, Inc. (NYSE:OI) by 28.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 498,296 shares of the industrial products company’s stock after selling 194,216 shares during the period. Cinctive Capital Management LP owned 0.32% of O-I Glass worth $5,402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OI. Bryce Point Capital LLC acquired a new position in O-I Glass during the 4th quarter worth $1,432,000. Villanova Investment Management Co LLC raised its stake in shares of O-I Glass by 21.1% during the fourth quarter. Villanova Investment Management Co LLC now owns 132,373 shares of the industrial products company’s stock valued at $1,435,000 after purchasing an additional 23,101 shares in the last quarter. Franklin Resources Inc. grew its position in O-I Glass by 20.2% in the 4th quarter. Franklin Resources Inc. now owns 35,782 shares of the industrial products company’s stock valued at $388,000 after buying an additional 6,023 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in O-I Glass by 6.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,520,015 shares of the industrial products company’s stock valued at $16,477,000 after buying an additional 95,000 shares during the period. Finally, IPG Investment Advisors LLC raised its position in shares of O-I Glass by 33.5% during the 4th quarter. IPG Investment Advisors LLC now owns 1,840,668 shares of the industrial products company’s stock worth $19,953,000 after buying an additional 462,040 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

O-I Glass Stock Performance

Shares of NYSE OI opened at $11.80 on Thursday. O-I Glass, Inc. has a 52-week low of $9.85 and a 52-week high of $17.58. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -16.62, a PEG 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. The stock’s fifty day simple moving average is $11.61 and its 200 day simple moving average is $11.84.

O-I Glass (NYSE:OI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. As a group, sell-side analysts forecast that O-I Glass, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OI shares. Citigroup decreased their price objective on shares of O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Bank of America increased their price target on O-I Glass from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price objective on shares of O-I Glass in a research note on Monday, March 17th. Finally, Wells Fargo & Company decreased their target price on O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.38.

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.