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

Equities researchers at StockNews.com started coverage on shares of Glatfelter (NYSE:GLT) in a report released on Wednesday. The brokerage set a “sell” rating on the basic materials company’s stock.

Glatfelter Price Performance

The company has a market cap of $73.68 million, a price-to-earnings ratio of -1.10 and a beta of 1.72. Glatfelter has a 12-month low of $15.80 and a 12-month high of $35.23. The stock’s 50-day moving average is $22.08 and its two-hundred day moving average is $21.36. 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 related news, major shareholder Carlson Capital, L.P. sold 24,668 shares of Glatfelter stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $22.62, for a total transaction of $557,990.16. Following the completion of the transaction, the insider now owns 333,461 shares of the company’s stock, valued at $7,542,887.82. This trade represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.26% of the stock is owned by insiders.

Institutional Trading of Glatfelter

A number of large investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its position in shares of Glatfelter by 226.5% during the 3rd quarter. GSA Capital Partners LLP now owns 293,790 shares of the basic materials company’s stock worth $529,000 after buying an additional 203,822 shares during the period. Cubist Systematic Strategies LLC bought a new position in Glatfelter during the second quarter worth $300,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Glatfelter in the second quarter worth $113,000. Bluefin Capital Management LLC increased its stake in Glatfelter by 10.4% in the second 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 in the last quarter. Finally, Clearline Capital LP raised its holdings in shares of 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 purchasing an additional 130,923 shares during the period. 76.92% of the stock is currently owned by institutional investors and hedge funds.

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.