Glatfelter Co. (NYSE:GLT) Sees Significant Growth in Short Interest

Glatfelter Co. (NYSE:GLT) was the target of a large growth in short interest in 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 days-to-cover ratio is presently 8.0 days. Currently, 4.2% of the company’s stock are sold short.

Glatfelter Stock Performance

Glatfelter stock traded down $0.03 during mid-day trading on Friday, reaching $1.74. 334,967 shares of the company traded hands, compared to its average volume of 253,033. The firm’s fifty day moving average is $1.70 and its two-hundred day moving average is $1.64. The company has a market capitalization of $79.00 million, a price-to-earnings ratio of -1.11 and a beta of 1.74. Glatfelter has a fifty-two week low of $1.22 and a fifty-two week high of $2.71. The company has a debt-to-equity ratio of 4.19, a current ratio of 2.21 and a quick ratio of 1.06.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 50,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $1.82, for a total transaction of $91,000.00. Following the completion of the sale, the insider now directly owns 4,655,691 shares of the company’s stock, valued at approximately $8,473,357.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.59% of the company’s stock.

Institutional Trading of Glatfelter

A number of institutional investors have recently made changes to their positions in GLT. Price T Rowe Associates Inc. MD purchased a new position in Glatfelter during the first quarter worth approximately $30,000. Ground Swell Capital LLC acquired a new position in shares of Glatfelter during the 2nd quarter valued at about $38,000. Cowen AND Company LLC boosted its position in shares of Glatfelter by 230.0% during the 2nd 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 during the last quarter. State Board of Administration of Florida Retirement System grew its holdings 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 during the period. Finally, Alpine Global Management LLC acquired a new stake in Glatfelter during the first quarter worth about $80,000. 76.92% of the stock is 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.