Insider Selling: GTT Communications Inc (GTT) CEO Sells 4,860 Shares of Stock

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GTT Communications Inc (NYSE:GTT) CEO Richard Calder sold 4,860 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $41.54, for a total value of $201,884.40. Following the completion of the sale, the chief executive officer now directly owns 1,337,817 shares in the company, valued at approximately $55,572,918.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • 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.
  • On Monday, February 25th, Richard Calder sold 3,234 shares of GTT Communications stock. The shares were sold at an average price of $32.43, for a total value of $104,878.62.
  • On Thursday, February 21st, Richard Calder sold 1,107 shares of GTT Communications stock. The shares were sold at an average price of $31.06, for a total value of $34,383.42.
  • On Tuesday, February 19th, Richard Calder sold 1,200 shares of GTT Communications stock. The shares were sold at an average price of $29.49, for a total value of $35,388.00.

Shares of GTT Communications stock opened at $33.25 on Thursday. The company has a debt-to-equity ratio of 7.68, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $2.37 billion, a PE ratio of -20.91 and a beta of 1.50. GTT Communications Inc has a 12 month low of $21.68 and a 12 month high of $52.90.

GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Thursday, February 28th. The technology company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. The firm had revenue of $454.80 million for the quarter, compared to analyst estimates of $453.79 million. GTT Communications had a negative return on equity of 15.23% and a negative net margin of 16.33%. Research analysts forecast that GTT Communications Inc will post -0.28 EPS for the current year.

Several institutional investors have recently made changes to their positions in GTT. Bank of New York Mellon Corp increased its position in shares of GTT Communications by 10.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 156,815 shares of the technology company’s stock valued at $6,806,000 after purchasing an additional 14,659 shares during the last quarter. MetLife Investment Advisors LLC grew its position in GTT Communications by 82.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 29,369 shares of the technology company’s stock worth $1,275,000 after acquiring an additional 13,310 shares during the last quarter. Neuberger Berman Group LLC grew its position in GTT Communications by 89.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 658,686 shares of the technology company’s stock worth $28,587,000 after acquiring an additional 310,518 shares during the last quarter. Teachers Advisors LLC grew its position in GTT Communications by 23.7% during the 3rd quarter. Teachers Advisors LLC now owns 82,350 shares of the technology company’s stock worth $3,574,000 after acquiring an additional 15,778 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in GTT Communications by 5.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 78,920 shares of the technology company’s stock worth $3,425,000 after acquiring an additional 3,776 shares during the last quarter. Hedge funds and other institutional investors own 86.24% of the company’s stock.

Several analysts have weighed in on GTT shares. ValuEngine cut GTT Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. BTIG Research cut GTT Communications from a “buy” rating to a “neutral” rating in a report on Wednesday. Zacks Investment Research cut GTT Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Finally, KeyCorp lowered their price target on GTT Communications from $57.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $42.75.

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

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