Glatfelter (NYSE:GLT) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Glatfelter Co. (NYSE:GLT)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.64 and traded as high as $1.71. Glatfelter shares last traded at $1.70, with a volume of 46,826 shares changing hands.

Analyst Upgrades and Downgrades

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

Glatfelter Price Performance

The firm’s 50-day moving average price is $1.70 and its two-hundred day moving average price is $1.64. The stock has a market cap of $76.93 million, a PE ratio of -0.84 and a beta of 1.74. The company has a current ratio of 2.21, a quick ratio of 1.06 and a debt-to-equity ratio of 4.19.

Glatfelter (NYSE:GLT) last announced its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share for the quarter. The business 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%.

Insider Buying and Selling

In related news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 owns 4,335,000 shares in the company, valued at $7,542,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD purchased a new position in shares of Glatfelter during the first quarter worth $30,000. Ground Swell Capital LLC purchased a new position in shares of Glatfelter during the second quarter worth $38,000. Cowen AND Company LLC raised its holdings in shares of Glatfelter by 230.0% during the second quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 23,000 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Glatfelter by 138.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 27,348 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 15,855 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new position in shares of Glatfelter during the first quarter worth $80,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

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.