MYDA Advisors LLC Buys 222,620 Shares of O-I Glass, Inc. $OI

MYDA Advisors LLC lifted its stake in O-I Glass, Inc. (NYSE:OI) by 318.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 292,620 shares of the industrial products company’s stock after purchasing an additional 222,620 shares during the period. O-I Glass accounts for 0.8% of MYDA Advisors LLC’s holdings, making the stock its 29th biggest position. MYDA Advisors LLC’s holdings in O-I Glass were worth $4,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of O-I Glass by 87.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,778 shares of the industrial products company’s stock worth $26,000 after buying an additional 830 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of O-I Glass in the second quarter worth approximately $29,000. Quarry LP purchased a new position in shares of O-I Glass in the fourth quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of O-I Glass by 36,533.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,198 shares of the industrial products company’s stock worth $32,000 after buying an additional 2,192 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of O-I Glass by 64.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,350 shares of the industrial products company’s stock worth $35,000 after buying an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Insider Transactions at O-I Glass

In related news, SVP Darrow A. Abrahams bought 2,774 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $9.04 per share, with a total value of $25,076.96. Following the completion of the acquisition, the senior vice president owned 235,928 shares of the company’s stock, valued at $2,132,789.12. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randolph L. Burns bought 11,000 shares of the stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $9.32 per share, for a total transaction of $102,520.00. Following the acquisition, the senior vice president directly owned 133,932 shares of the company’s stock, valued at approximately $1,248,246.24. This represents a 8.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 17,083 shares of company stock valued at $157,312. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OI has been the topic of a number of research reports. Weiss Ratings raised shares of O-I Glass from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wells Fargo & Company downgraded shares of O-I Glass from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Friday, March 20th. Wall Street Zen downgraded shares of O-I Glass from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Royal Bank Of Canada set a $14.00 price objective on shares of O-I Glass in a report on Friday, April 17th. Finally, Truist Financial reissued a “buy” rating and issued a $14.00 price objective (down from $15.00) on shares of O-I Glass in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, O-I Glass has an average rating of “Hold” and a consensus price target of $15.50.

O-I Glass Price Performance

OI stock opened at $9.16 on Monday. O-I Glass, Inc. has a one year low of $7.75 and a one year high of $16.91. The company’s fifty day moving average price is $9.42 and its 200-day moving average price is $12.37. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market capitalization of $1.40 billion, a PE ratio of -7.51, a price-to-earnings-growth ratio of 1.05 and a beta of 0.64.

O-I Glass (NYSE:OI) last released its earnings results on Tuesday, April 28th. The industrial products company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). O-I Glass had a positive return on equity of 13.65% and a negative net margin of 2.91%.The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm posted $0.40 EPS. O-I Glass’s quarterly revenue was down 1.7% compared to the same quarter last year. O-I Glass has set its FY 2026 guidance at 1.000-1.500 EPS. On average, equities analysts anticipate that O-I Glass, Inc. will post 1.2 EPS for the current fiscal year.

O-I Glass Company Profile

O-I Glass, Inc is a leading global manufacturer of glass containers, supplying the food and beverage, wine and spirits, pharmaceutical, cosmetic and personal care industries. Headquartered in Perrysburg, Ohio, the company produces a broad range of glass packaging solutions, including bottles and jars, designed to meet customer specifications for size, shape, color and performance. O-I leverages proprietary technologies in forming, decoration and quality control to serve both mass-market and premium brands.

Tracing its origins to the early 20th century through the merger of prominent regional glassmakers, the company adopted the Owens-Illinois name in 1929 before rebranding as O-I Glass in 2015.