Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Glatfelter Corporation shares valued at $3,168,178 were sold by CARLSON CAPITAL L P on Jun 28 ’24. At $1.40 per share, CARLSON CAPITAL L P sold 2,262,984 shares. The insider’s holdings dropped to 4,705,691 shares worth approximately $7.29 million following the completion of this transaction.
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Also, CARLSON CAPITAL L P sold 207,325 shares, netting a total of over 342,086 in proceeds. Following the sale of shares at $1.65 each, the insider now holds 6,968,675 shares.
Before that, CARLSON CAPITAL L P had added 75,000 shares to its account. In a trade valued at $115,320, the 10% Owner bought Glatfelter Corporation shares for $1.54 each. Upon closing the transaction, the insider’s holdings increased to 75,000 shares, worth approximately $11.01 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. 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 Stock Performance
During the last five days, there has been a drop of approximately -7.19%. Over the course of the year, Glatfelter Corporation shares have dropped approximately -20.10%. Shares of the company reached a 52-week high of $2.7100 on 02/07/24 and a 52-week low of $1.2150 on 07/02/24. A 50-day SMA is recorded $1.5936, while a 200-day SMA reached $1.6812. Nevertheless, trading volume fell to 0.53 million shares from 74200.0 shares the previous day.
Support And Resistance Levels for Glatfelter Corporation (GLT)
According to the 24-hour chart, there is a support level at 1.5100, which, if violated, would cause prices to drop to 1.4700. In the upper region, resistance lies at 1.6000. The next price resistance is at 1.6500. RSI (Relative Strength Index) is 40.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1383, which suggests the price will decrease in the coming days. Percent R is at 92.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
