GTT Communications Inc (NYSE:GTT) EVP Acquires $100,023.60 in Stock

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GTT Communications Inc (NYSE:GTT) EVP Chris Mckee purchased 12,840 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $7.79 per share, for a total transaction of $100,023.60. Following the completion of the transaction, the executive vice president now owns 494,662 shares in the company, valued at approximately $3,853,416.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Chris Mckee also recently made the following trade(s):

  • On Monday, August 5th, Chris Mckee sold 2,922 shares of GTT Communications stock. The shares were sold at an average price of $11.29, for a total value of $32,989.38.
  • On Tuesday, May 28th, Chris Mckee sold 638 shares of GTT Communications stock. The shares were sold at an average price of $25.87, for a total value of $16,505.06.
  • On Wednesday, May 22nd, Chris Mckee sold 954 shares of GTT Communications stock. The shares were sold at an average price of $26.75, for a total value of $25,519.50.
  • On Monday, May 20th, Chris Mckee sold 780 shares of GTT Communications stock. The shares were sold at an average price of $25.43, for a total value of $19,835.40.

Shares of NYSE GTT opened at $8.52 on Thursday. GTT Communications Inc has a 1-year low of $4.90 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. The stock has a fifty day moving average of $13.86. The firm has a market capitalization of $457.09 million, a price-to-earnings ratio of -5.36 and a beta of 1.56.

GTT Communications (NYSE:GTT) last issued its earnings results on Thursday, August 8th. The technology company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.55). GTT Communications had a negative return on equity of 12.53% and a negative net margin of 7.66%. The company had revenue of $433.80 million during the quarter, compared to analyst estimates of $447.66 million. During the same period in the prior year, the business earned ($2.83) earnings per share. GTT Communications’s quarterly revenue was up 32.7% on a year-over-year basis. On average, equities research analysts predict that GTT Communications Inc will post -1.19 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Third Point LLC bought a new position in shares of GTT Communications in the second quarter worth $53,945,000. Goodnow Investment Group LLC grew its stake in shares of GTT Communications by 606.6% in the second quarter. Goodnow Investment Group LLC now owns 739,953 shares of the technology company’s stock worth $13,023,000 after purchasing an additional 635,233 shares in the last quarter. Cadian Capital Management LP grew its stake in shares of GTT Communications by 1,632.7% in the second quarter. Cadian Capital Management LP now owns 350,000 shares of the technology company’s stock worth $6,160,000 after purchasing an additional 329,800 shares in the last quarter. Phoenician Capital LLC grew its stake in shares of GTT Communications by 47.5% in the first 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 in the last quarter. Finally, Norges Bank bought a new position in shares of GTT Communications in the fourth quarter worth $3,954,000. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. Craig Hallum lowered GTT Communications from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. BTIG Research lowered GTT Communications from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. Raymond James lowered GTT Communications from an “outperform” rating to a “market perform” rating and set a $11.50 target price on the stock. in a research report on Monday. ValuEngine raised GTT Communications from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Cowen dropped their target price on GTT Communications from $37.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.31.

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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