Traders Purchase Large Volume of Call Options on O-I Glass (NYSE:OI)

O-I Glass, Inc. (NYSE:OI) was the target of some unusual options trading activity on Wednesday. Stock traders bought 2,354 call options on the stock. This is an increase of 3,039% compared to the average volume of 75 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in O-I Glass in the fourth quarter valued at approximately $2,573,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in O-I Glass by 30.0% in 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 during the period. Two Sigma Investments LP lifted its stake in shares of O-I Glass by 44.4% in the 4th quarter. Two Sigma Investments LP now owns 710,216 shares of the industrial products company’s stock valued at $7,699,000 after purchasing an additional 218,381 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of O-I Glass during the 4th quarter worth $89,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of O-I Glass during the 4th quarter worth about $106,000. Institutional investors and hedge funds own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of O-I Glass from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, January 6th. StockNews.com raised O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America raised their target price on O-I Glass from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Citigroup decreased their price target on O-I Glass from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, O-I Glass has an average rating of “Moderate Buy” and a consensus target price of $15.38.

O-I Glass Price Performance

Shares of O-I Glass stock opened at $11.57 on Friday. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.15 and a quick ratio of 0.70. The business has a 50 day simple moving average of $11.11 and a two-hundred day simple moving average of $11.93. The stock has a market capitalization of $1.78 billion, a P/E ratio of -16.29, a PEG ratio of 0.24 and a beta of 1.20. O-I Glass has a 12 month low of $9.85 and a 12 month high of $17.58.

O-I Glass (NYSE:OI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, analysts predict that O-I Glass will post 1.33 EPS for the current fiscal 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.