Sunday, June 26, 2022

The Potential Rise in the Price of Glatfelter Corporation (GLT) following insiders activity

Glatfelter Corporation’s filing revealed that its Vice Pres, Finance and CAO ELDER DAVID C acquired Company’s shares for reported $16200.0 on May 23. In the deal valued at $8.10 per share,2,000 shares were bought. As a result of this transaction, ELDER DAVID C now holds 73,166 shares worth roughly $ 0.52 million.


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Then, PARRINI DANTE C bought 3,200 shares, generating $24,800 in total proceeds. Upon buying the shares at $7.75, the Chairman and CEO now owns 454,256 shares.

Before that, ELDER DAVID C bought 3,000 shares. Glatfelter Corporation shares valued at $23,520 were divested by the Vice Pres, Finance and CAO at a price of $7.84 per share. As a result of the transaction, ELDER DAVID C now holds 71,166 shares, worth roughly $0.51 million.

Meanwhile, BMO Capital Markets upgraded its Glatfelter Corporation [GLT] rating to an Outperform from a a Market perform in a research note published on Tuesday. PT values the company’s stock at a premium of 58.06 to its Tuesday closing price. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who decreased its forecast for the stock in mid April from “an Outperform” to “a Market perform”. BMO Capital Markets also remained covering GLT and has increased its forecast on May 05, 2017 with a “an Outperform” recommendation from previously “Market perform” rating. Sidoti started covering the stock on December 16, 2015. It rated GLT as “a Buy”.

Price Performance Review of GLT

On Tuesday, Glatfelter Corporation [NYSE:GLT] saw its stock jump 4.85% to $7.13. On the same session, the stock had its day’s lowest price of $6.78, but rose to a high of $7.23. Over the last five days, the stock has lost -2.86%. Glatfelter Corporation shares have fallen nearly -58.55% since the year began. Nevertheless, the stocks have fallen -49.07% over the past one year. While a 52-week high of $18.74 was reached on 01/05/22, a 52-week low of $6.57 was recorded on 06/16/22. SMA at 50 days reached $9.24, while 200 days put it at $14.09. A total of 0.62 million shares were traded, compared to the trading of 0.59 million shares in the previous session.

Levels Of Support And Resistance For GLT Stock

The 24-hour chart illustrates a support level at 6.86, which if violated will result in even more drops to 6.60. On the upside, there is a resistance level at 7.31. A further resistance level may holdings at 7.50. The Relative Strength Index (RSI) on the 14-day chart is 36.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.76%. Stochastics %K at 14.72% indicates the stock is a buying.

How much short interest is there in Glatfelter Corporation?

A steep rise in short interest was recorded in Glatfelter Corporation stocks on Apr 28, 2022, dropping by 66730.0 shares to a total of 0.86 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 0.93 million shares. There was a decline of -7.73%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.73% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.28.

Glatfelter Corporation [GLT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 6,797,848 shares, or roughly 15.20% of the outstanding GLT shares. In other words, the investor’s shares have risen by 22,702 from its previous 13-F filing of 6775146.0. Additionally, The Vanguard Group, Inc. decreased -1.10% of its stake after which the total value it holdings stand at $40,705,907, while Dimensional Fund Advisors LP added 0.06% of its stake to hold $28.97 million in the firm. Over the last quarter, Segall Bryant & Hamill LLC sold -30,822 shares of Glatfelter Corporation, while Carlson Capital LP sold 119,984 shares. At present, Fuller & Thaler Asset Management, is holding 1,946,871 shares valued at $16.78 million. SSgA Funds Management, Inc. owned 1,563,315 shares of the company at the time of its most recent 13F filing, worth $13.48 million.

According to FactSet, Glatfelter Corporation’s share price will average $12.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 76.47 percent from its previous closing price of $6.80. Analysts expect Glatfelter Corporation stock to reach the higher price of $12.00, while the lowest price estimate is $12.00. The most recent change occurred on August 07, 2015 when Deutsche Bank resumed its ‘”a Hold”‘ rating for the stock and retained the price target to $23.

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