The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Glatfelter Corporation shares valued at $105,000 were purchased by Hackett Darrel H. on Sep 07. At $4.20 per share, Hackett Darrel H. acquired 25,000 shares. The insider’s holdings grew to 36,702 shares worth approximately $0.16 million following the completion of this transaction.
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Also, Laures Wolfgang purchased 23,000 shares, netting a total of over 97,773 in proceeds. Following the buying of shares at $4.25 each, the insider now holds 23,000 shares.
Before that, Fahnemann Thomas had added 13,000 shares to its account. In a trade valued at $50,752, the CEO bought Glatfelter Corporation shares for $3.90 each. Upon closing the transaction, the insider’s holdings increased to 13,000 shares, worth approximately $2.7 million.
As published in a research note from BMO Capital Markets on July 26, 2021, Glatfelter Corporation [GLT] has been rated up from a Market perform to an Outperform and the price target has been revised to $17. This represents a 74.06% premium over Wednesday’s closing price. Analysts at BMO Capital Markets downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid April. As of May 05, 2017, BMO Capital Markets has increased its “Market perform” rating to a “an Outperform” for GLT. Earlier on December 16, 2015, Sidoti initiated its rating. Their recommendation was “a Buy” for GLT stock.
Analyzing GLT’s Price Performance
On Wednesday, Glatfelter Corporation [NYSE: GLT] plunged -5.57% to $4.41. The stock’s lowest price that day was $4.11, but it reached a high of $4.63 in the same session. During the last five days, there has been a surge of approximately 6.78%. Over the course of the year, Glatfelter Corporation shares have dropped approximately -74.36%. Shares of the company reached a 52-week high of $18.74 on 01/05/22 and a 52-week low of $3.81 on 09/06/22. A 50-day SMA is recorded $5.39, while a 200-day SMA reached $10.79. Nevertheless, trading volume fell to 1.48 million shares from 1.4 million shares the previous day.
Support And Resistance Levels for Glatfelter Corporation (GLT)
According to the 24-hour chart, there is a support level at 4.14, which, if violated, would cause prices to drop to 3.86. In the upper region, resistance lies at 4.66. The next price resistance is at 4.90. RSI (Relative Strength Index) is 42.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 54.68%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Glatfelter Corporation subject to short interest?
Stocks of Glatfelter Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.23 million shares to 1.3 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.53 million shares. A decline of -17.69% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.48 of the overall float, the days-to-cover ratio (short ratio) decline to 3.48.
Which companies own the most shares of Glatfelter Corporation (GLT)?
According to BlackRock Fund Advisors filings, the company currently owns 6,953,254 shares, which is about 15.53% of the total GLT shares outstanding. The investor’s shares have appreciated by 155,406 from its previous 13-F filing of 6797848.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $18,404,913. Segall Bryant & Hamill LLC acquire a 5.70% interest valued at $16.72 million while Dimensional Fund Advisors LP sold a -153,427 stake. A total of 632,319 shares of Glatfelter Corporation were sold by Carlson Capital LP during the quarter, and -131,995 were sold by Fuller & Thaler Asset Management,. In its current portfolio, SSgA Funds Management, Inc. holds 1,575,034 shares valued at $7.67 million.
In terms of Glatfelter Corporation share price expectations, FactSet research, analysts set an average price target of $9.00 in the next 12 months, up nearly 92.72% from the previous closing price of $4.67. Analysts anticipate Glatfelter Corporation stock to reach $9.00 by 2022, with the lowest price target being $9.00. In spite of this, 1 analysts ranked Glatfelter Corporation stock as a Buy at the end of 2022. On August 07, 2015, Deutsche Bank assigned a price target of “a Hold” to the stock and reiterated coverage with a $23.