Glatfelter (NYSE:GLT) Shares Gap Down – Should You Sell?

Glatfelter Co. (NYSE:GLT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $22.62, but opened at $21.03. Glatfelter shares last traded at $21.99, with a volume of 6,788 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Friday, November 1st.

Glatfelter Price Performance

The company has a 50-day moving average of $22.10 and a two-hundred day moving average of $21.35. The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 4.26. The company has a market capitalization of $957.78 million, a P/E ratio of -14.32 and a beta of 1.72.

Glatfelter (NYSE:GLT) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($3.25) EPS for the quarter. Glatfelter had a negative net margin of 5.08% and a negative return on equity of 17.71%. The business had revenue of $329.44 million for the quarter.

Insider Activity

In other Glatfelter news, major shareholder Carlson Capital, L.P. sold 24,668 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $22.62, for a total transaction of $557,990.16. Following the completion of the sale, the insider now directly owns 333,461 shares in the company, valued at approximately $7,542,887.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Glatfelter

Several hedge funds and other institutional investors have recently made changes to their positions in GLT. State Board of Administration of Florida Retirement System raised its holdings in Glatfelter by 138.0% in 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 during the period. Littlejohn & Co. LLC boosted its position in shares of Glatfelter by 111.5% during the first quarter. Littlejohn & Co. LLC now owns 3,067,767 shares of the basic materials company’s stock worth $6,136,000 after acquiring an additional 1,617,110 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Glatfelter by 4.1% during the first 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 in the last quarter. Gabelli Funds LLC increased its stake in Glatfelter by 17.6% in the 1st quarter. Gabelli Funds LLC now owns 40,000 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Alpine Global Management LLC bought a new stake in Glatfelter in the 1st quarter worth approximately $80,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

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.