Assenagon Asset Management S.A. Lowers Stake in Glatfelter Co. (NYSE:GLT)

Assenagon Asset Management S.A. reduced its stake in shares of Glatfelter Co. (NYSE:GLT - Free Report) by 93.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,375 shares of the basic materials company's stock after selling 442,301 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of Glatfelter worth $67,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Littlejohn & Co. LLC boosted its stake in shares of Glatfelter by 5.6% during the third quarter. Littlejohn & Co. LLC now owns 851,097 shares of the basic materials company's stock valued at $1,702,000 after purchasing an additional 45,438 shares during the period. CastleKnight Management LP boosted its stake in shares of Glatfelter by 25.6% during the fourth quarter. CastleKnight Management LP now owns 579,207 shares of the basic materials company's stock valued at $1,124,000 after purchasing an additional 117,910 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Glatfelter by 119.5% during the third quarter. GSA Capital Partners LLP now owns 549,978 shares of the basic materials company's stock valued at $1,100,000 after purchasing an additional 299,407 shares during the period. Barclays PLC boosted its stake in shares of Glatfelter by 41.6% during the third quarter. Barclays PLC now owns 33,354 shares of the basic materials company's stock valued at $66,000 after purchasing an additional 9,796 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of Glatfelter by 36.4% in the third quarter. Gabelli Funds LLC now owns 30,000 shares of the basic materials company's stock valued at $60,000 after acquiring an additional 8,000 shares in the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Glatfelter from a "hold" rating to a "sell" rating in a research report on Friday, May 10th.

Glatfelter Stock Up 0.6 %

GLT stock traded up $0.01 during trading on Thursday, hitting $1.74. 321,414 shares of the company's stock traded hands, compared to its average volume of 1,094,713. The business has a fifty day simple moving average of $1.71 and a two-hundred day simple moving average of $1.71. The company has a quick ratio of 1.13, a current ratio of 2.31 and a debt-to-equity ratio of 3.89. The firm has a market capitalization of $78.74 million, a P/E ratio of -0.83 and a beta of 1.73. Glatfelter Co. has a 1 year low of $1.25 and a 1 year high of $3.76.

Glatfelter (NYSE:GLT - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($0.33) EPS for the quarter. Glatfelter had a negative return on equity of 18.86% and a negative net margin of 6.88%. The company had revenue of $327.26 million during the quarter.

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.

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