GTT Communications Inc (NYSE:GTT) insider Richard Calder sold 6,000 shares of GTT Communications stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $60.01, for a total value of $360,060.00. Following the transaction, the insider now owns 1,215,263 shares of the company’s stock, valued at approximately $72,927,932.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Richard Calder also recently made the following trade(s):
- On Thursday, February 15th, Richard Calder sold 6,000 shares of GTT Communications stock. The shares were sold at an average price of $45.85, for a total value of $275,100.00.
Shares of GTT Communications Inc (NYSE GTT) traded up $0.15 during trading on Friday, hitting $60.25. The company had a trading volume of 508,911 shares, compared to its average volume of 435,809. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.34. GTT Communications Inc has a 1 year low of $22.95 and a 1 year high of $62.00. The stock has a market cap of $2,693.99, a price-to-earnings ratio of -34.43, a PEG ratio of 49.06 and a beta of 1.10.
Several institutional investors have recently made changes to their positions in the stock. Bamco Inc. NY increased its stake in shares of GTT Communications by 9.7% in the 4th quarter. Bamco Inc. NY now owns 2,500,000 shares of the technology company’s stock valued at $117,375,000 after purchasing an additional 221,800 shares in the last quarter. BlackRock Inc. increased its stake in shares of GTT Communications by 3.1% in the 4th quarter. BlackRock Inc. now owns 1,961,959 shares of the technology company’s stock valued at $92,115,000 after purchasing an additional 58,261 shares in the last quarter. Spruce House Investment Management LLC purchased a new position in shares of GTT Communications in the 3rd quarter valued at about $59,723,000. Dimensional Fund Advisors LP increased its stake in shares of GTT Communications by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,656,706 shares of the technology company’s stock valued at $52,435,000 after purchasing an additional 24,385 shares in the last quarter. Finally, Cove Street Capital LLC increased its stake in shares of GTT Communications by 5.4% in the 4th quarter. Cove Street Capital LLC now owns 855,329 shares of the technology company’s stock valued at $40,157,000 after purchasing an additional 44,019 shares in the last quarter. Hedge funds and other institutional investors own 66.76% of the company’s stock.
A number of equities analysts have weighed in on GTT shares. Oppenheimer lifted their price objective on GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Craig Hallum reiterated a “buy” rating and set a $50.00 price objective (up previously from $40.00) on shares of GTT Communications in a research note on Monday, January 22nd. William Blair reiterated an “outperform” rating on shares of GTT Communications in a research note on Monday, February 26th. Finally, Jefferies Group lifted their price objective on GTT Communications to $62.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $56.86.
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About GTT Communications
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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