Short Interest in Glatfelter Co. (NYSE:GLT) Drops By 9.3%

Glatfelter Co. (NYSE:GLT) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 1,170,000 shares, a drop of 9.3% from the July 15th total of 1,290,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 365,100 shares, the days-to-cover ratio is presently 3.2 days.

Glatfelter Stock Performance

Shares of GLT stock traded down $0.02 on Monday, hitting $1.79. 93,912 shares of the stock were exchanged, compared to its average volume of 825,932. The firm’s 50 day moving average is $1.57 and its two-hundred day moving average is $1.73. Glatfelter has a one year low of $1.22 and a one year high of $2.71. The firm has a market capitalization of $81.00 million, a PE ratio of -0.89 and a beta of 1.74. The company has a current ratio of 2.31, a quick ratio of 1.13 and a debt-to-equity ratio of 3.89.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Glatfelter news, major shareholder Carlson Capital L. P sold 207,325 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $1.65, for a total value of $342,086.25. Following the completion of the transaction, the insider now owns 6,968,675 shares in the company, valued at approximately $11,498,313.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.59% of the company’s stock.

Institutional Investors Weigh In On Glatfelter

Institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD bought a new stake in shares of Glatfelter in the first quarter valued at approximately $30,000. Ground Swell Capital LLC bought a new stake in Glatfelter during the 2nd quarter valued at $38,000. Cowen AND Company LLC lifted its position 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 acquiring an additional 23,000 shares in the last quarter. Teton Advisors Inc. boosted its holdings in shares of Glatfelter by 38.9% in the fourth quarter. Teton Advisors Inc. now owns 25,000 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 7,000 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Glatfelter by 138.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 27,348 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 15,855 shares in the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

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.