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

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

Glatfelter Stock Performance

The stock has a 50 day moving average of $22.08 and a two-hundred day moving average of $21.37. Glatfelter has a 1 year low of $15.80 and a 1 year high of $35.23. The company has a market cap of $73.68 million, a price-to-earnings ratio of -1.10 and a beta of 1.72. The company has a current ratio of 2.23, a quick ratio of 1.04 and a debt-to-equity ratio of 4.26.

Insider Activity at Glatfelter

In related news, major shareholder Carlson Capital, L.P. sold 24,668 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $22.62, for a total transaction of $557,990.16. Following the transaction, the insider now directly owns 333,461 shares of the company’s stock, valued at $7,542,887.82. This represents a 6.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Glatfelter by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,369,984 shares of the basic materials company’s stock valued at $4,740,000 after purchasing an additional 92,314 shares during the last quarter. Clearline Capital LP grew its stake in Glatfelter by 22.8% during the 2nd 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 last quarter. GSA Capital Partners LLP grew its stake in Glatfelter by 226.5% during the 3rd quarter. GSA Capital Partners LLP now owns 293,790 shares of the basic materials company’s stock valued at $529,000 after purchasing an additional 203,822 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Glatfelter during the 2nd quarter valued at about $300,000. Finally, Squarepoint Ops LLC grew its stake in Glatfelter by 59.3% during the 2nd quarter. Squarepoint Ops LLC now owns 186,216 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 69,314 shares during the last quarter. 76.92% of the stock is owned by institutional investors and hedge funds.

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.