Glatfelter Co. (NYSE:GLT) Short Interest Update

Glatfelter Co. (NYSE:GLT) was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 1,080,000 shares, a drop of 7.7% from the July 31st total of 1,170,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average trading volume of 350,500 shares, the days-to-cover ratio is presently 3.1 days.

Glatfelter Price Performance

Shares of NYSE:GLT opened at $1.60 on Wednesday. The company has a market capitalization of $72.40 million, a PE ratio of -0.79 and a beta of 1.74. The company has a debt-to-equity ratio of 4.19, a quick ratio of 1.06 and a current ratio of 2.21. The stock has a fifty day moving average of $1.59 and a 200-day moving average of $1.70. Glatfelter has a one year low of $1.22 and a one year high of $2.71.

Glatfelter (NYSE:GLT) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter. Glatfelter had a negative return on equity of 16.21% and a negative net margin of 5.44%. The company had revenue of $329.44 million for the quarter.

Insider Activity at Glatfelter

In related news, major shareholder Carlson Capital L. P sold 207,325 shares of Glatfelter stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1.65, for a total transaction of $342,086.25. Following the sale, the insider now directly owns 6,968,675 shares in the company, valued at $11,498,313.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Glatfelter

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Glatfelter during the 1st quarter valued at $30,000. State Board of Administration of Florida Retirement System raised its stake in shares of Glatfelter by 138.0% during the 1st 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 in the last quarter. Ground Swell Capital LLC acquired a new position in Glatfelter in the second quarter worth approximately $38,000. Cowen AND Company LLC raised its position in Glatfelter by 230.0% during the second quarter. Cowen AND Company LLC now owns 33,000 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in Glatfelter in the first quarter valued at approximately $80,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Analysts Set New Price Targets

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

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.