GTT Communications Inc (GTT) Insider Sells $35,388.00 in Stock

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GTT Communications Inc (NYSE:GTT) insider Richard Calder sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $29.49, for a total transaction of $35,388.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Friday, February 1st, Richard Calder sold 7,545 shares of GTT Communications stock. The shares were sold at an average price of $26.32, for a total transaction of $198,584.40.

GTT traded down $0.25 during trading hours on Thursday, hitting $31.05. 257,458 shares of the company’s stock were exchanged, compared to its average volume of 497,736. GTT Communications Inc has a 12-month low of $21.68 and a 12-month high of $62.32. The company has a market cap of $1.70 billion, a P/E ratio of 129.38, a PEG ratio of 1.73 and a beta of 1.51. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 6.62.

A number of institutional investors and hedge funds have recently made changes to their positions in GTT. Parallel Advisors LLC acquired a new position in GTT Communications during the 3rd quarter worth approximately $100,000. Cannell Capital LLC acquired a new position in GTT Communications during the 4th quarter worth approximately $82,000. Bessemer Group Inc. acquired a new position in GTT Communications during the 3rd quarter worth approximately $189,000. Public Employees Retirement Association of Colorado acquired a new position in GTT Communications during the 3rd quarter worth approximately $212,000. Finally, Cowen Prime Services LLC grew its holdings in GTT Communications by 400.0% during the 3rd quarter. Cowen Prime Services LLC now owns 5,000 shares of the technology company’s stock worth $217,000 after acquiring an additional 4,000 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on GTT shares. ValuEngine raised shares of GTT Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of GTT Communications from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 8th. Cowen reissued a “buy” rating and issued a $54.00 price target on shares of GTT Communications in a research note on Friday, November 9th. Oppenheimer reduced their price target on shares of GTT Communications to $50.00 and set an “outperform” rating on the stock in a research note on Friday, November 9th. Finally, Raymond James reduced their price target on shares of GTT Communications from $53.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. GTT Communications currently has a consensus rating of “Buy” and a consensus target price of $46.60.

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About GTT Communications

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.

See Also: Average Daily Trade Volume – What It Means In Stock Trading

Insider Buying and Selling by Quarter for GTT Communications (NYSE:GTT)

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