GTT Communications, Inc. (NYSE:GTT) insider Richard Calder sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $30.96, for a total transaction of $309,600.00. Following the sale, the insider now directly owns 1,153,478 shares of the company’s stock, valued at approximately $35,711,678.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Richard Calder also recently made the following trade(s):
- On Thursday, June 1st, Richard Calder sold 10,000 shares of GTT Communications stock. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00.
- On Monday, May 1st, Richard Calder sold 10,000 shares of GTT Communications stock. The stock was sold at an average price of $27.87, for a total transaction of $278,700.00.
GTT Communications, Inc. (GTT) opened at 31.25 on Monday. The company’s market capitalization is $1.29 billion. The company’s 50-day moving average price is $31.59 and its 200 day moving average price is $28.31. GTT Communications, Inc. has a 52 week low of $19.31 and a 52 week high of $34.20.
GTT Communications (NYSE:GTT) last released its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.30. The firm had revenue of $182.40 million for the quarter, compared to the consensus estimate of $179.16 million. GTT Communications had a negative net margin of 2.15% and a positive return on equity of 4.57%. The business’s revenue was up 46.6% compared to the same quarter last year. On average, equities research analysts anticipate that GTT Communications, Inc. will post ($0.17) EPS for the current year.
A number of research firms have recently weighed in on GTT. BidaskClub raised shares of GTT Communications from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Cowen and Company raised their price target on shares of GTT Communications from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of GTT Communications from a “strong sell” rating to a “hold” rating in a research report on Friday, May 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $34.86.
Several hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB purchased a new stake in GTT Communications during the first quarter worth about $117,000. ClariVest Asset Management LLC purchased a new stake in GTT Communications during the first quarter worth about $117,000. Invictus RG purchased a new stake in GTT Communications during the first quarter worth about $117,000. Fifth Third Bancorp boosted its stake in GTT Communications by 11.9% in the first quarter. Fifth Third Bancorp now owns 5,034 shares of the technology company’s stock worth $123,000 after buying an additional 536 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in GTT Communications by 92.1% in the first quarter. Sei Investments Co. now owns 5,557 shares of the technology company’s stock worth $135,000 after buying an additional 2,664 shares in the last quarter. Institutional investors and hedge funds own 55.95% of the company’s stock.
GTT Communications Company Profile
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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