Glatfelter Co. (NYSE:GLT) Sees Significant Decrease in Short Interest

Glatfelter Co. (NYSE:GLT) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 531,400 shares, a decrease of 27.8% from the August 31st total of 735,900 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average trading volume of 363,000 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analyst Weigh In

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

Insider Transactions at Glatfelter

In related news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $1.74, for a total transaction of $558,002.34. Following the completion of the transaction, the insider now directly owns 4,335,000 shares in the company, valued at approximately $7,542,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.59% of the company’s stock.

Institutional Trading of Glatfelter

Several hedge funds have recently added to or reduced their stakes in GLT. CastleKnight Management LP raised its holdings in shares of Glatfelter by 25.6% in the 4th quarter. CastleKnight Management LP now owns 579,207 shares of the basic materials company’s stock valued at $1,124,000 after purchasing an additional 117,910 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Glatfelter by 138.0% in the first 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 buying an additional 15,855 shares during the last quarter. Littlejohn & Co. LLC increased its holdings in Glatfelter by 111.5% in the first quarter. Littlejohn & Co. LLC now owns 3,067,767 shares of the basic materials company’s stock valued at $6,136,000 after buying an additional 1,617,110 shares during the last quarter. Vanguard Group Inc. raised its stake in Glatfelter by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock valued at $4,740,000 after buying an additional 92,314 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of Glatfelter by 17.6% during the 1st quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.

Glatfelter Stock Down 4.8 %

Shares of NYSE GLT traded down $0.09 during mid-day trading on Friday, hitting $1.77. The company had a trading volume of 538,324 shares, compared to its average volume of 740,928. Glatfelter has a 1-year low of $1.22 and a 1-year high of $2.71. The company has a market capitalization of $80.10 million, a PE ratio of -0.87 and a beta of 1.73. The company has a debt-to-equity ratio of 4.19, a current ratio of 2.21 and a quick ratio of 1.06. The business’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $1.65.

Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter. Glatfelter had a negative net margin of 5.44% and a negative return on equity of 16.21%. The company had revenue of $329.44 million during the quarter.

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.