Glatfelter (NYSE:GLT) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Glatfelter (NYSE:GLT) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the basic materials company’s stock.

Glatfelter Stock Performance

The company’s 50 day simple moving average is $22.10 and its 200 day simple moving average is $21.38. The stock has a market cap of $73.68 million, a PE ratio of -1.10 and a beta of 1.72. Glatfelter has a 52 week low of $15.80 and a 52 week high of $35.23. The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 4.26.

Insider Buying and Selling at Glatfelter

In other news, major shareholder Carlson Capital, L.P. sold 3,846 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $23.66, for a total value of $90,996.36. Following the transaction, the insider now owns 358,130 shares of the company’s stock, valued at approximately $8,473,355.80. This represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Glatfelter

Hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Glatfelter during the second quarter worth approximately $300,000. GSA Capital Partners LLP raised its position in Glatfelter by 226.5% in the 3rd quarter. GSA Capital Partners LLP now owns 293,790 shares of the basic materials company’s stock worth $529,000 after purchasing an additional 203,822 shares during the period. Clearline Capital LP boosted its position in Glatfelter by 22.8% during 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. Vanguard Group Inc. boosted its position in Glatfelter by 4.1% during 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 during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Glatfelter during the second quarter valued at about $113,000. 76.92% of the stock is currently owned by institutional investors.

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.