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

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

O-I Glass Price Performance

Shares of OI traded down $0.54 during mid-day trading on Thursday, reaching $11.52. 2,149,281 shares of the company's stock were exchanged, compared to its average volume of 1,526,383. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 3.18. O-I Glass has a 52-week low of $9.85 and a 52-week high of $17.58. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -4.17 and a beta of 1.22. The company has a 50-day simple moving average of $11.08 and a two-hundred day simple moving average of $11.96.

O-I Glass (NYSE:OI - Get Free Report) last released 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 positive return on equity of 9.16% and a negative net margin of 6.34%. On average, sell-side analysts predict that O-I Glass will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OI. JPMorgan Chase & Co. raised its holdings in shares of O-I Glass by 18.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,643 shares of the industrial products company's stock valued at $8,130,000 after buying an additional 94,671 shares during the period. Highland Peak Capital LLC purchased a new stake in shares of O-I Glass during the third quarter valued at approximately $27,132,000. Barclays PLC boosted its stake in shares of O-I Glass by 349.3% in the third quarter. Barclays PLC now owns 261,161 shares of the industrial products company's stock valued at $3,427,000 after purchasing an additional 203,037 shares during the period. Maverick Capital Ltd. purchased a new position in shares of O-I Glass in the third quarter valued at $1,264,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in O-I Glass during the 3rd quarter valued at $32,350,000. Hedge funds and other institutional investors own 97.24% of the company's stock.

Wall Street Analyst Weigh In

OI has been the topic of a number of recent analyst reports. Bank of America increased their price objective on O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a report on Monday, January 6th. StockNews.com upgraded shares of O-I Glass from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Royal Bank of Canada decreased their price objective on shares of O-I Glass from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Barclays cut their target price on shares of O-I Glass from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective on shares of O-I Glass from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.