Stock Traders Buy Large Volume of GTT Communications Call Options (GTT)

Share on StockTwits

GTT Communications Inc (NYSE:GTT) was the target of unusually large options trading on Wednesday. Stock traders bought 3,453 call options on the stock. This is an increase of approximately 3,869% compared to the average daily volume of 87 call options.

In other GTT Communications news, insider Richard Calder sold 1,321 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $39.30, for a total value of $51,915.30. Following the completion of the sale, the insider now owns 1,342,677 shares of the company’s stock, valued at $52,767,206.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Sicoli sold 4,857 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $26.32, for a total value of $127,836.24. Following the completion of the sale, the chief financial officer now directly owns 378,366 shares of the company’s stock, valued at approximately $9,958,593.12. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 653,000 shares of company stock valued at $18,197,130 and have sold 33,944 shares valued at $1,002,204. Company insiders own 23.01% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Cannell Capital LLC purchased a new position in shares of GTT Communications during the fourth quarter valued at approximately $82,000. Citigroup Inc. boosted its position in shares of GTT Communications by 1,180.1% during the fourth quarter. Citigroup Inc. now owns 5,159 shares of the technology company’s stock valued at $122,000 after buying an additional 4,756 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of GTT Communications by 123.3% during the third quarter. PNC Financial Services Group Inc. now owns 6,538 shares of the technology company’s stock valued at $284,000 after buying an additional 3,610 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of GTT Communications by 69.9% during the fourth quarter. Bessemer Group Inc. now owns 7,400 shares of the technology company’s stock valued at $175,000 after buying an additional 3,045 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of GTT Communications by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,587 shares of the technology company’s stock valued at $321,000 after buying an additional 10,611 shares during the last quarter. 87.74% of the stock is currently owned by institutional investors.

Shares of GTT Communications stock opened at $41.00 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 7.68. GTT Communications has a 52 week low of $21.68 and a 52 week high of $53.10. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -25.79 and a beta of 1.43.

GTT has been the subject of a number of research reports. Raymond James reduced their price objective on GTT Communications from $53.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. ValuEngine cut GTT Communications from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised GTT Communications from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, January 8th. KeyCorp reduced their price objective on GTT Communications from $57.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Finally, BTIG Research reduced their price objective on GTT Communications to $49.00 and set a “buy” rating for the company in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. GTT Communications has a consensus rating of “Buy” and an average target price of $40.63.

ILLEGAL ACTIVITY WARNING: This article was first published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://www.tickerreport.com/banking-finance/4301320/stock-traders-buy-large-volume-of-gtt-communications-call-options-gtt.html.

GTT Communications Company Profile

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.

Further Reading: Percentage Decliners

Receive News & Ratings for GTT Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GTT Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Stock Traders Buy Large Volume of Boingo Wireless Call Options
Stock Traders Buy Large Volume of Boingo Wireless Call Options
Texas Roadhouse Sees Unusually Large Options Volume
Texas Roadhouse Sees Unusually Large Options Volume
Diebold Nixdorf Inc  Receives $6.00 Consensus Price Target from Brokerages
Diebold Nixdorf Inc Receives $6.00 Consensus Price Target from Brokerages
PennyMac Mortgage Investment Trust  Declares $0.47 Quarterly Dividend
PennyMac Mortgage Investment Trust Declares $0.47 Quarterly Dividend
WillScot Corp  Receives $16.79 Average Target Price from Brokerages
WillScot Corp Receives $16.79 Average Target Price from Brokerages
Jay T. Scripter Sells 25,758 Shares of Trex Company Inc  Stock
Jay T. Scripter Sells 25,758 Shares of Trex Company Inc Stock


© 2006-2019 Ticker Report