Insider Selling: GTT Communications Inc (GTT) CFO Sells 419 Shares of Stock

GTT Communications Inc (NYSE:GTT) CFO Michael Sicoli sold 419 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $40.70, for a total value of $17,053.30. Following the completion of the sale, the chief financial officer now directly owns 398,842 shares in the company, valued at $16,232,869.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Sicoli also recently made the following trade(s):

  • On Monday, February 25th, Michael Sicoli sold 1,902 shares of GTT Communications stock. The stock was sold at an average price of $32.43, for a total value of $61,681.86.
  • On Thursday, February 21st, Michael Sicoli sold 531 shares of GTT Communications stock. The stock was sold at an average price of $31.06, for a total value of $16,492.86.
  • On Tuesday, February 19th, Michael Sicoli sold 570 shares of GTT Communications stock. The stock was sold at an average price of $29.49, for a total value of $16,809.30.
  • On Friday, February 1st, Michael Sicoli sold 4,857 shares of GTT Communications stock. The stock was sold at an average price of $26.32, for a total value of $127,836.24.

NYSE GTT opened at $42.89 on Wednesday. GTT Communications Inc has a 12 month low of $21.68 and a 12 month high of $53.10. The company has a debt-to-equity ratio of 7.68, a current ratio of 0.62 and a quick ratio of 0.62.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL lifted its stake in shares of GTT Communications by 2.6% in the 4th quarter. Virginia Retirement Systems ET AL now owns 15,500 shares of the technology company’s stock valued at $367,000 after purchasing an additional 400 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of GTT Communications by 3.4% during the 4th quarter. D.A. Davidson & CO. now owns 21,553 shares of the technology company’s stock worth $510,000 after acquiring an additional 700 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of GTT Communications by 1.2% during the 4th quarter. Legal & General Group Plc now owns 60,407 shares of the technology company’s stock worth $1,430,000 after acquiring an additional 708 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of GTT Communications by 16.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,582 shares of the technology company’s stock worth $179,000 after acquiring an additional 1,044 shares during the last quarter. Finally, Elk Creek Partners LLC lifted its stake in shares of GTT Communications by 0.8% during the 4th quarter. Elk Creek Partners LLC now owns 283,967 shares of the technology company’s stock worth $6,719,000 after acquiring an additional 2,379 shares during the last quarter. 87.74% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on GTT shares. ValuEngine cut GTT Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Zacks Investment Research raised GTT Communications from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Tuesday, January 8th. KeyCorp cut their target price on GTT Communications from $57.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. BTIG Research cut their target price on GTT Communications to $49.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Finally, Raymond James cut their target price on 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 research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $40.63.

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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.

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

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