Insider Selling: Glatfelter Co. (NYSE:GLT) Major Shareholder Sells 50,000 Shares of Stock

Glatfelter Co. (NYSE:GLT) major shareholder Carlson Capital, L.P. sold 50,000 shares of Glatfelter stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $1.82, for a total value of $91,000.00. Following the completion of the transaction, the insider now owns 4,655,691 shares of the company’s stock, valued at $8,473,357.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Glatfelter Price Performance

NYSE:GLT traded up $0.11 during trading hours on Monday, hitting $1.79. 201,957 shares of the company’s stock traded hands, compared to its average volume of 747,897. The firm has a market cap of $81.00 million, a P/E ratio of -0.83 and a beta of 1.73. Glatfelter Co. has a 52 week low of $1.22 and a 52 week high of $2.71. The business’s fifty day simple moving average is $1.62 and its two-hundred day simple moving average is $1.66. The company has a quick ratio of 1.06, a current ratio of 2.21 and a debt-to-equity ratio of 4.19.

Glatfelter (NYSE:GLT) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.25) EPS for the quarter. The company 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%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Glatfelter in the second quarter worth about $300,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Glatfelter during the 2nd quarter valued at about $113,000. Bluefin Capital Management LLC increased its holdings in Glatfelter by 10.4% during the 2nd quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock valued at $186,000 after purchasing an additional 12,596 shares during the period. Clearline Capital LP increased its holdings in Glatfelter by 22.8% during the 2nd quarter. Clearline Capital LP now owns 704,732 shares of the basic materials company’s stock valued at $980,000 after purchasing an additional 130,923 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Glatfelter by 59.3% during the 2nd quarter. Squarepoint Ops LLC now owns 186,216 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 69,314 shares during the period. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Analyst Ratings Changes

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

Glatfelter Company Profile

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.