Glatfelter Co. (NYSE:GLT) Sees Large Increase in Short Interest

Glatfelter Co. (NYSE:GLTGet Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,430,000 shares, a growth of 14.3% from the February 29th total of 3,000,000 shares. Currently, 7.9% of the shares of the company are short sold. Based on an average daily volume of 1,530,000 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Millennium Management LLC increased its position in shares of Glatfelter by 90.4% in the fourth quarter. Millennium Management LLC now owns 1,849,644 shares of the basic materials company’s stock valued at $5,142,000 after buying an additional 878,276 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Glatfelter by 162.4% in the third quarter. Citadel Advisors LLC now owns 905,298 shares of the basic materials company’s stock valued at $2,815,000 after buying an additional 560,316 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Glatfelter by 4,183.7% in the third quarter. Two Sigma Investments LP now owns 555,165 shares of the basic materials company’s stock valued at $1,727,000 after buying an additional 542,205 shares in the last quarter. Marshall Wace LLP increased its position in shares of Glatfelter by 179.9% in the fourth quarter. Marshall Wace LLP now owns 828,243 shares of the basic materials company’s stock valued at $2,303,000 after buying an additional 532,302 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Glatfelter by 32.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,155,104 shares of the basic materials company’s stock valued at $4,181,000 after buying an additional 522,924 shares in the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Glatfelter Price Performance

NYSE:GLT traded down $0.10 during trading hours on Tuesday, hitting $1.83. The company’s stock had a trading volume of 543,681 shares, compared to its average volume of 1,576,108. The business’s 50-day moving average is $1.93 and its two-hundred day moving average is $1.76. The company has a market capitalization of $82.81 million, a PE ratio of -1.05 and a beta of 1.69. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.10 and a current ratio of 2.16. Glatfelter has a 52-week low of $1.25 and a 52-week high of $4.59.

Glatfelter (NYSE:GLTGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $320.38 million during the quarter. Glatfelter had a negative return on equity of 14.04% and a negative net margin of 5.71%.

About Glatfelter

(Get Free Report)

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.

Further Reading

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