GAMMA Investing LLC Grows Stock Holdings in O-I Glass, Inc. (NYSE:OI)

GAMMA Investing LLC boosted its holdings in O-I Glass, Inc. (NYSE:OI) by 371.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,402 shares of the industrial products company’s stock after buying an additional 1,892 shares during the quarter. GAMMA Investing LLC’s holdings in O-I Glass were worth $32,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Investment Management Inc. raised its holdings in O-I Glass by 84.2% during the first quarter. Thompson Investment Management Inc. now owns 393,883 shares of the industrial products company’s stock worth $6,535,000 after purchasing an additional 180,093 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in O-I Glass in the first quarter valued at $1,021,000. Duality Advisers LP acquired a new position in O-I Glass in the first quarter valued at $1,554,000. Goldman Sachs Group Inc. boosted its stake in O-I Glass by 8.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,474,863 shares of the industrial products company’s stock valued at $24,158,000 after acquiring an additional 115,728 shares in the last quarter. Finally, Leeward Investments LLC MA grew its holdings in shares of O-I Glass by 36.0% during the first quarter. Leeward Investments LLC MA now owns 623,129 shares of the industrial products company’s stock worth $10,338,000 after purchasing an additional 165,103 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at O-I Glass

In related news, Director John Humphrey purchased 15,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $11.30 per share, with a total value of $169,500.00. Following the purchase, the director now directly owns 84,227 shares in the company, valued at $951,765.10. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Bank of America raised O-I Glass from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $16.00 in a research report on Thursday. Truist Financial restated a “buy” rating and set a $16.00 target price (down from $17.00) on shares of O-I Glass in a research report on Thursday, August 1st. Robert W. Baird reduced their price target on shares of O-I Glass from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup lifted their price objective on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, O-I Glass currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.63.

O-I Glass Trading Up 0.7 %

Shares of O-I Glass stock opened at $13.19 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 2.85. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -6.87, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. O-I Glass, Inc. has a 52-week low of $10.08 and a 52-week high of $17.58. The company’s 50-day simple moving average is $12.67 and its 200-day simple moving average is $12.71.

O-I Glass (NYSE:OI) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. O-I Glass had a positive return on equity of 15.64% and a negative net margin of 4.32%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business posted $0.88 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that O-I Glass, Inc. will post 1.13 earnings per share for the current year.

O-I Glass 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.