O-I Glass, Inc. (NYSE:OI) Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP lifted its stake in shares of O-I Glass, Inc. (NYSE:OI) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 692,512 shares of the industrial products company’s stock after purchasing an additional 41,892 shares during the quarter. Cinctive Capital Management LP owned about 0.45% of O-I Glass worth $9,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Highland Peak Capital LLC bought a new stake in O-I Glass in the 3rd quarter valued at about $27,132,000. Segall Bryant & Hamill LLC bought a new stake in shares of O-I Glass during the third quarter valued at approximately $32,350,000. Allspring Global Investments Holdings LLC boosted its position in shares of O-I Glass by 33.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 172,565 shares of the industrial products company’s stock worth $2,264,000 after buying an additional 43,724 shares during the period. Private Management Group Inc. boosted its position in shares of O-I Glass by 21.3% during the second quarter. Private Management Group Inc. now owns 2,505,279 shares of the industrial products company’s stock worth $27,884,000 after buying an additional 439,838 shares during the period. Finally, Markel Group Inc. grew its holdings in O-I Glass by 20.8% in the 3rd quarter. Markel Group Inc. now owns 814,100 shares of the industrial products company’s stock worth $10,681,000 after buying an additional 140,000 shares in the last quarter. Institutional investors own 97.24% of the company’s stock.

Wall Street Analyst Weigh In

OI has been the topic of several recent analyst reports. Citigroup lifted their target price on O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Barclays reduced their price objective on shares of O-I Glass from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada lowered their target price on shares of O-I Glass from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Bank of America raised shares of O-I Glass from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $16.00 in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, O-I Glass presently has an average rating of “Moderate Buy” and an average target price of $16.25.

O-I Glass Trading Down 0.7 %

O-I Glass stock opened at $12.60 on Monday. O-I Glass, Inc. has a 1 year low of $10.08 and a 1 year high of $17.58. The firm’s 50 day moving average price is $12.69 and its two-hundred day moving average price is $12.20. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -4.57 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.77 and a current ratio of 1.23.

O-I Glass (NYSE:OI) last announced its earnings results on Tuesday, October 29th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). O-I Glass had a positive return on equity of 9.16% and a negative net margin of 6.34%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, research analysts predict that O-I Glass, Inc. will post 0.76 EPS for the current fiscal year.

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.