Centiva Capital LP Raises Stock Holdings in O-I Glass, Inc. (NYSE:OI)

Centiva Capital LP increased its position in O-I Glass, Inc. (NYSE:OI) by 83.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,250 shares of the industrial products company’s stock after buying an additional 16,473 shares during the quarter. Centiva Capital LP’s holdings in O-I Glass were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in O-I Glass during the 3rd quarter valued at $27,000. Newbridge Financial Services Group Inc. increased its position in O-I Glass by 1,337.5% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,875 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 2,675 shares during the period. GAMMA Investing LLC increased its position in O-I Glass by 371.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,402 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,892 shares during the period. Nisa Investment Advisors LLC increased its position in O-I Glass by 28.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,136 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,136 shares during the period. Finally, KBC Group NV increased its position in O-I Glass by 38.9% during the 3rd quarter. KBC Group NV now owns 5,431 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,521 shares during the period. 97.24% of the stock is owned by hedge funds and other institutional investors.

O-I Glass Stock Performance

Shares of O-I Glass stock opened at $11.85 on Monday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -4.29 and a beta of 1.20. The firm’s 50-day moving average is $12.62 and its 200 day moving average is $12.17. O-I Glass, Inc. has a 1 year low of $10.08 and a 1 year high of $17.58. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.23 and a quick ratio of 0.77.

O-I Glass (NYSE:OI) last announced its quarterly 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 firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts anticipate that O-I Glass, Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of O-I Glass from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America upgraded shares of O-I Glass from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $16.00 in a report on Thursday, October 17th. Barclays dropped 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. Citigroup boosted their target price on shares of O-I Glass from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped 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 report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.25.

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.