Boothbay Fund Management LLC Purchases 829,662 Shares of O-I Glass, Inc. (NYSE:OI)

Boothbay Fund Management LLC raised its position in O-I Glass, Inc. (NYSE:OI - Free Report) by 213.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,218,593 shares of the industrial products company's stock after acquiring an additional 829,662 shares during the period. Boothbay Fund Management LLC owned about 0.79% of O-I Glass worth $13,210,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of OI. Susquehanna Fundamental Investments LLC acquired a new position in shares of O-I Glass during the 4th quarter worth approximately $2,324,000. Hsbc Holdings PLC increased its holdings in O-I Glass by 323.0% during the fourth quarter. Hsbc Holdings PLC now owns 131,761 shares of the industrial products company's stock worth $1,422,000 after buying an additional 100,612 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of O-I Glass by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 94,006 shares of the industrial products company's stock valued at $1,019,000 after purchasing an additional 5,271 shares during the period. Mesirow Institutional Investment Management Inc. bought a new position in O-I Glass during the fourth quarter worth about $10,885,000. Finally, Covalis Capital LLP increased its position in O-I Glass by 40.8% during the fourth quarter. Covalis Capital LLP now owns 626,894 shares of the industrial products company's stock worth $6,796,000 after buying an additional 181,559 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company's stock.

O-I Glass Stock Performance

NYSE OI traded up $0.17 during trading on Tuesday, reaching $12.14. The company's stock had a trading volume of 1,853,502 shares, compared to its average volume of 1,608,064. The firm has a 50 day moving average price of $11.32 and a 200 day moving average price of $11.54. O-I Glass, Inc. has a 12 month low of $9.23 and a 12 month high of $15.62. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -17.10, a price-to-earnings-growth ratio of 0.24 and a beta of 0.98. The company has a current ratio of 1.15, a quick ratio of 0.70 and a debt-to-equity ratio of 3.78.

O-I Glass (NYSE:OI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.22. O-I Glass had a positive return on equity of 8.27% and a negative net margin of 1.62%. The firm's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities analysts anticipate that O-I Glass, Inc. will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on OI. Wells Fargo & Company reduced 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. Truist Financial decreased their price objective on shares of O-I Glass from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup cut their target price on shares of O-I Glass from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Bank of America upped their price target on shares of O-I Glass from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $16.00 price objective on shares of O-I Glass in a research report on Monday, March 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, O-I Glass currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

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.