Insider Selling: GTT Communications Inc (NYSE:GTT) Insider Sells $22,715.42 in Stock

GTT Communications Inc (NYSE:GTT) insider Richard Calder sold 1,274 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $17.83, for a total value of $22,715.42. Following the sale, the insider now owns 1,332,856 shares in the company, valued at $23,764,822.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • 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.
  • On Friday, May 3rd, Richard Calder sold 4,860 shares of GTT Communications stock. The shares were sold at an average price of $41.54, for a total value of $201,884.40.
  • On Wednesday, April 10th, Richard Calder sold 1,321 shares of GTT Communications stock. The shares were sold at an average price of $39.30, for a total value of $51,915.30.

Shares of NYSE GTT opened at $16.74 on Thursday. The company has a debt-to-equity ratio of 9.77, a quick ratio of 0.60 and a current ratio of 0.60. The business has a 50 day simple moving average of $21.93. GTT Communications Inc has a fifty-two week low of $15.51 and a fifty-two week high of $48.30. The stock has a market capitalization of $1.01 billion, a P/E ratio of -10.53 and a beta of 1.59.

GTT Communications (NYSE:GTT) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.49) earnings per share for the quarter, missing the 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 during the quarter, compared to analysts’ expectations of $456.93 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. The company’s quarterly revenue was up 72.7% compared to the same quarter last year. Research analysts expect that GTT Communications Inc will post -0.35 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in shares of GTT Communications by 51.6% during the 4th quarter. Rhumbline Advisers now owns 54,661 shares of the technology company’s stock worth $1,293,000 after buying an additional 18,598 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of GTT Communications by 7.2% during the 4th quarter. New York State Common Retirement Fund now owns 41,700 shares of the technology company’s stock worth $987,000 after buying an additional 2,800 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of GTT Communications by 2.1% during the 4th quarter. BlackRock Inc. now owns 2,758,597 shares of the technology company’s stock worth $65,269,000 after buying an additional 57,081 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of GTT Communications by 4.0% during the 4th quarter. Bank of New York Mellon Corp now owns 163,080 shares of the technology company’s stock worth $3,859,000 after buying an additional 6,265 shares in the last quarter. Finally, Citigroup Inc. raised 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 worth $122,000 after purchasing an additional 4,756 shares during the period. Hedge funds and other institutional investors own 87.00% of the company’s stock.

GTT has been the topic of a number of recent research reports. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. BTIG Research downgraded GTT Communications from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. Craig Hallum reiterated a “buy” rating and issued a $40.00 price target (down from $45.00) on shares of GTT Communications in a report on Monday, June 24th. ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Oppenheimer began coverage on Alcon in a report on Thursday, May 9th. They issued an “outperform” rating and a $69.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $41.56.

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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