GTT Communications (GTT) EVP Sells $351,050.00 in Stock

GTT Communications (NYSE:GTT) EVP Chris Mckee sold 7,000 shares of the firm’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $50.15, for a total value of $351,050.00. Following the completion of the sale, the executive vice president now owns 444,938 shares in the company, valued at $22,313,640.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

  • On Monday, April 16th, Chris Mckee sold 7,000 shares of GTT Communications stock. The shares were sold at an average price of $49.81, for a total value of $348,670.00.
  • On Thursday, March 15th, Chris Mckee sold 7,000 shares of GTT Communications stock. The shares were sold at an average price of $60.00, for a total value of $420,000.00.

Shares of GTT remained flat at $$51.00 during midday trading on Friday. The stock had a trading volume of 899 shares, compared to its average volume of 366,152. The company has a debt-to-equity ratio of 5.96, a current ratio of 0.94 and a quick ratio of 0.94. GTT Communications has a twelve month low of $49.85 and a twelve month high of $50.45. The firm has a market capitalization of $2.25 billion, a PE ratio of 212.60 and a beta of 1.13.

GTT Communications (NYSE:GTT) last posted its earnings results on Thursday, May 3rd. The technology company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.67). GTT Communications had a negative return on equity of 0.40% and a negative net margin of 9.96%. The firm had revenue of $260.70 million for the quarter, compared to analyst estimates of $253.61 million. During the same quarter last year, the firm posted ($0.42) EPS. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. equities research analysts forecast that GTT Communications will post -1.3 earnings per share for the current fiscal year.

GTT has been the topic of a number of research analyst reports. KeyCorp upgraded GTT Communications from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a research report on Friday, May 4th. Zacks Investment Research cut GTT Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. ValuEngine upgraded GTT Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Jefferies Group lifted their target price on GTT Communications to $62.00 and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, Oppenheimer lifted their target price on GTT Communications from $52.00 to $68.00 in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.22.

A number of hedge funds have recently modified their holdings of the stock. Bamco Inc. NY increased its position in GTT Communications by 9.7% in the 4th quarter. Bamco Inc. NY now owns 2,500,000 shares of the technology company’s stock valued at $117,375,000 after acquiring an additional 221,800 shares during the period. BlackRock Inc. increased its position in GTT Communications by 1.5% in the 1st quarter. BlackRock Inc. now owns 1,991,233 shares of the technology company’s stock valued at $112,902,000 after acquiring an additional 29,274 shares during the period. Cove Street Capital LLC increased its position in GTT Communications by 5.4% in the 4th quarter. Cove Street Capital LLC now owns 855,329 shares of the technology company’s stock valued at $40,157,000 after acquiring an additional 44,019 shares during the period. Eventide Asset Management LLC increased its position in GTT Communications by 943.9% in the 1st quarter. Eventide Asset Management LLC now owns 441,000 shares of the technology company’s stock valued at $25,005,000 after acquiring an additional 398,754 shares during the period. Finally, Allianz Asset Management GmbH increased its position in GTT Communications by 103.3% in the 4th quarter. Allianz Asset Management GmbH now owns 390,818 shares of the technology company’s stock valued at $18,349,000 after acquiring an additional 198,605 shares during the period. Hedge funds and other institutional investors own 66.30% of the company’s stock.

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.

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

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