Insider Selling: GTT Communications Inc (NYSE:GTT) Insider Sells 5,006 Shares of Stock

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GTT Communications Inc (NYSE:GTT) insider Richard Calder sold 5,006 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $11.29, for a total value of $56,517.74. Following the completion of the transaction, the insider now directly owns 1,327,850 shares of the company’s stock, valued at $14,991,426.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Richard Calder also recently made the following trade(s):

  • On Friday, July 5th, Richard Calder sold 1,274 shares of GTT Communications stock. The shares were sold at an average price of $17.83, for a total value of $22,715.42.
  • On Tuesday, May 28th, Richard Calder sold 1,160 shares of GTT Communications stock. The shares were sold at an average price of $25.87, for a total value of $30,009.20.
  • On Wednesday, May 22nd, Richard Calder sold 1,533 shares of GTT Communications stock. The shares were sold at an average price of $26.75, for a total value of $41,007.75.
  • On Monday, May 20th, Richard Calder sold 1,757 shares of GTT Communications stock. The shares were sold at an average price of $25.43, for a total value of $44,680.51.

GTT Communications stock traded down $4.25 during trading on Thursday, hitting $7.10. The company’s stock had a trading volume of 2,276,218 shares, compared to its average volume of 697,237. The stock has a market capitalization of $639.45 million, a PE ratio of -4.47 and a beta of 1.56. The stock has a fifty day moving average price of $15.91. GTT Communications Inc has a 1-year low of $10.84 and a 1-year high of $47.20. The company has a debt-to-equity ratio of 9.77, a current ratio of 0.60 and a quick ratio of 0.60.

GTT Communications (NYSE:GTT) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.20). The firm had revenue of $450.20 million for the quarter, compared to analyst estimates of $456.93 million. GTT Communications had a negative return on equity of 16.23% and a negative net margin of 14.28%. The business’s revenue was up 72.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.69) earnings per share. Equities research analysts forecast that GTT Communications Inc will post -0.39 EPS for the current fiscal year.

Several equities analysts recently commented on the company. Craig Hallum reiterated a “buy” rating and issued a $40.00 target price (down from $45.00) on shares of GTT Communications in a research note on Monday, June 24th. ValuEngine upgraded GTT Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered GTT Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Oppenheimer dropped their target price on GTT Communications from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, BTIG Research lowered GTT Communications from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. GTT Communications currently has an average rating of “Buy” and an average target price of $45.29.

A number of large investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in GTT Communications by 1.2% during the fourth quarter. Legal & General Group Plc now owns 60,407 shares of the technology company’s stock worth $1,430,000 after acquiring an additional 708 shares during the last quarter. AlphaOne Investment Services LLC increased its stake in GTT Communications by 67.6% during the first quarter. AlphaOne Investment Services LLC now owns 2,900 shares of the technology company’s stock worth $101,000 after acquiring an additional 1,170 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in GTT Communications by 21.5% during the first quarter. BNP Paribas Arbitrage SA now owns 16,549 shares of the technology company’s stock worth $574,000 after acquiring an additional 2,930 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in GTT Communications by 16.6% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 24,626 shares of the technology company’s stock worth $855,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its stake in GTT Communications by 2.3% during the second quarter. Boston Financial Mangement LLC now owns 181,243 shares of the technology company’s stock worth $3,190,000 after acquiring an additional 3,994 shares during the last quarter. Institutional investors 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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Insider Buying and Selling by Quarter for GTT Communications (NYSE:GTT)

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