Short Interest in Glatfelter Co. (NYSE:GLT) Declines By 7.7%

Glatfelter Co. (NYSE:GLTGet Free Report) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 1,080,000 shares, a drop of 7.7% from the July 31st total of 1,170,000 shares. Based on an average trading volume of 350,500 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.5% of the shares of the stock are sold short.

Insider Buying and Selling at Glatfelter

In other Glatfelter news, major shareholder Carlson Capital L. P sold 207,325 shares of Glatfelter stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1.65, for a total transaction of $342,086.25. Following the completion of the transaction, the insider now directly owns 6,968,675 shares of the company’s stock, valued at $11,498,313.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.59% of the company’s stock.

Institutional Trading of Glatfelter

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new position in shares of Glatfelter in the 1st quarter valued at approximately $30,000. State Board of Administration of Florida Retirement System grew its position in shares of Glatfelter by 138.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 27,348 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 15,855 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Glatfelter in the 2nd quarter valued at approximately $38,000. Cowen AND Company LLC lifted its stake in Glatfelter by 230.0% in the 2nd quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Alpine Global Management LLC bought a new stake in Glatfelter in the 1st quarter valued at approximately $80,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Glatfelter Trading Down 0.6 %

GLT stock traded down $0.01 during midday trading on Tuesday, reaching $1.60. The stock had a trading volume of 74,271 shares, compared to its average volume of 786,356. The business has a fifty day simple moving average of $1.59 and a two-hundred day simple moving average of $1.71. The company has a quick ratio of 1.06, a current ratio of 2.21 and a debt-to-equity ratio of 4.19. The firm has a market cap of $72.40 million, a price-to-earnings ratio of -0.79 and a beta of 1.74. Glatfelter has a twelve month low of $1.22 and a twelve month high of $2.71.

Glatfelter (NYSE:GLTGet Free Report) last announced its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.25) EPS for the quarter. The firm had revenue of $329.44 million during the quarter. Glatfelter had a negative return on equity of 16.21% and a negative net margin of 5.44%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Glatfelter from a “sell” rating to a “hold” rating in a report on Friday, August 9th.

Read Our Latest Research Report on Glatfelter

Glatfelter Company Profile

(Get Free Report)

Glatfelter Corporation, together with its subsidiaries, engages in the manufacture and sale of engineered materials worldwide. It operates through three segments: Composite Fibers, Airlaid Materials, and Spunlace. The Composite Fibers segment offers food and beverage filtration materials for single-serve coffee and tea products; wallcover base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wraps, and other consumer product applications; composite laminates consisting of decorative laminates for use in furniture, household and commercial flooring, and other applications; and specialty engineered products, which are used in electrical energy storage, home, hygiene, and other engineered fiber-based applications.

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