StockNews.com Begins Coverage on Glatfelter (NYSE:GLT)

StockNews.com assumed coverage on shares of Glatfelter (NYSE:GLT) in a research note issued on Saturday. The firm set a “sell” rating on the basic materials company’s stock.

Glatfelter Stock Down 6.9 %

GLT opened at $21.05 on Friday. Glatfelter has a twelve month low of $15.80 and a twelve month high of $35.23. The firm has a market cap of $73.68 million, a price-to-earnings ratio of -1.10 and a beta of 1.72. The firm’s 50-day simple moving average is $22.10 and its 200-day simple moving average is $21.38. The company has a debt-to-equity ratio of 4.26, a quick ratio of 1.04 and a current ratio of 2.23.

Insider Buying and Selling

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 24,668 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $22.62, for a total value of $557,990.16. Following the completion of the transaction, the insider now directly owns 333,461 shares of the company’s stock, valued at approximately $7,542,887.82. The trade was a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.26% of the stock is owned by corporate insiders.

Institutional Trading of Glatfelter

Hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its holdings in Glatfelter by 226.5% in the third quarter. GSA Capital Partners LLP now owns 293,790 shares of the basic materials company’s stock valued at $529,000 after acquiring an additional 203,822 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Glatfelter in the 2nd quarter valued at about $300,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Glatfelter during the 2nd quarter worth approximately $113,000. Bluefin Capital Management LLC raised its stake in shares of Glatfelter by 10.4% during the second quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock worth $186,000 after buying an additional 12,596 shares during the last quarter. Finally, Clearline Capital LP lifted its holdings in Glatfelter by 22.8% in the second quarter. Clearline Capital LP now owns 704,732 shares of the basic materials company’s stock valued at $980,000 after buying an additional 130,923 shares during the period. Institutional investors and hedge funds own 76.92% of the company’s stock.

About Glatfelter

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.