GTT Communications Inc (NYSE:GTT) CFO Michael Sicoli sold 3,124 shares of GTT Communications stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $11.29, for a total transaction of $35,269.96. Following the sale, the chief financial officer now owns 391,537 shares of the company’s stock, valued at $4,420,452.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Michael Sicoli also recently made the following trade(s):
- On Tuesday, May 28th, Michael Sicoli sold 681 shares of GTT Communications stock. The shares were sold at an average price of $25.87, for a total transaction of $17,617.47.
- On Wednesday, May 22nd, Michael Sicoli sold 727 shares of GTT Communications stock. The stock was sold at an average price of $26.75, for a total transaction of $19,447.25.
- On Monday, May 20th, Michael Sicoli sold 833 shares of GTT Communications stock. The stock was sold at an average price of $25.43, for a total transaction of $21,183.19.
NYSE:GTT traded down $4.25 during mid-day trading on Thursday, reaching $7.10. 2,276,218 shares of the stock were exchanged, compared to its average volume of 697,237. The business’s fifty day moving average price is $15.91. The company has a market cap of $639.45 million, a price-to-earnings ratio of -4.47 and a beta of 1.56. GTT Communications Inc has a 1-year low of $10.84 and a 1-year high of $47.20. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 9.77.
GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.20). GTT Communications had a negative return on equity of 16.23% and a negative net margin of 14.28%. The business had revenue of $450.20 million for the quarter, compared to analyst estimates of $456.93 million. During the same quarter in the previous year, the business posted ($0.69) earnings per share. The company’s revenue was up 72.7% compared to the same quarter last year. As a group, research analysts expect that GTT Communications Inc will post -0.39 earnings per share for the current year.
Several analysts have recently weighed in on GTT shares. Zacks Investment Research downgraded shares of GTT Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. BTIG Research cut shares of GTT Communications from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. Craig Hallum reaffirmed a “buy” rating and set a $40.00 price target (down from $45.00) on shares of GTT Communications in a research note on Monday, June 24th. ValuEngine upgraded shares of GTT Communications from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Oppenheimer decreased their price objective on shares of GTT Communications from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $45.29.
Several institutional investors have recently made changes to their positions in GTT. Neuberger Berman Group LLC lifted its holdings in GTT Communications by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 1,188,597 shares of the technology company’s stock worth $41,244,000 after buying an additional 9,659 shares during the period. Williams Jones & Associates LLC increased its position in shares of GTT Communications by 7.4% during the first quarter. Williams Jones & Associates LLC now owns 657,810 shares of the technology company’s stock valued at $22,826,000 after acquiring an additional 45,101 shares in the last quarter. Phoenician Capital LLC grew its position in GTT Communications by 47.5% in the 1st quarter. Phoenician Capital LLC now owns 582,767 shares of the technology company’s stock worth $20,222,000 after purchasing an additional 187,688 shares during the period. Bislett Management LLC grew its position in GTT Communications by 26.3% in the 2nd quarter. Bislett Management LLC now owns 505,000 shares of the technology company’s stock worth $8,888,000 after purchasing an additional 105,000 shares during the period. Finally, Geode Capital Management LLC grew its position in GTT Communications by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 391,508 shares of the technology company’s stock worth $9,263,000 after purchasing an additional 29,705 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.
GTT Communications Company Profile
GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers in the United States, Europe, and internationally. The company offers private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless Internet access services; managed equipment, security, and hosting services; and voice services consisting of session initiation protocol trunking and hosted private branch exchange services.
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