Short Interest in Glatfelter Co. (NYSE:GLT) Expands By 236.3%

Glatfelter Co. (NYSE:GLT) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,820,000 shares, a growth of 236.3% from the September 30th total of 541,200 shares. Based on an average trading volume of 227,700 shares, the short-interest ratio is currently 8.0 days. Currently, 4.2% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Carlson Capital, L.P. sold 320,691 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $1.74, for a total value of $558,002.34. Following the sale, the insider now directly owns 4,335,000 shares of the company’s stock, valued at $7,542,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.59% of the company’s stock.

Institutional Investors Weigh In On Glatfelter

A number of hedge funds have recently modified their holdings of GLT. Cubist Systematic Strategies LLC acquired a new stake in shares of Glatfelter during the second quarter valued at about $300,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Glatfelter during the second quarter valued at about $113,000. Bluefin Capital Management LLC increased its position in shares of Glatfelter by 10.4% during the second quarter. Bluefin Capital Management LLC now owns 134,149 shares of the basic materials company’s stock valued at $186,000 after acquiring an additional 12,596 shares during the last quarter. Clearline Capital LP increased its position 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 acquiring an additional 130,923 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Glatfelter by 59.3% during the second quarter. Squarepoint Ops LLC now owns 186,216 shares of the basic materials company’s stock valued at $259,000 after acquiring an additional 69,314 shares during the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Glatfelter Price Performance

Shares of NYSE GLT traded down $0.02 during mid-day trading on Friday, reaching $1.75. The company’s stock had a trading volume of 332,573 shares, compared to its average volume of 693,681. The stock has a 50-day moving average of $1.70 and a two-hundred day moving average of $1.64. The stock has a market capitalization of $79.19 million, a P/E ratio of -0.86 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. Glatfelter has a 1-year low of $1.22 and a 1-year high of $2.71.

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

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.