GTT Communications, Inc. (GTT) General Counsel Sells $254,380.00 in Stock
GTT Communications, Inc. (NYSE:GTT) General Counsel Chris Mckee sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $36.34, for a total value of $254,380.00. Following the completion of the sale, the general counsel now owns 391,517 shares in the company, valued at approximately $14,227,727.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Chris Mckee also recently made the following trade(s):
- On Monday, October 2nd, Chris Mckee sold 7,000 shares of GTT Communications stock. The shares were sold at an average price of $31.99, for a total value of $223,930.00.
- On Friday, September 1st, Chris Mckee sold 7,000 shares of GTT Communications stock. The shares were sold at an average price of $31.35, for a total value of $219,450.00.
GTT Communications, Inc. (NYSE:GTT) opened at $35.30 on Monday. The firm has a market capitalization of $1,533.97, a P/E ratio of 392.22 and a beta of 1.49. GTT Communications, Inc. has a 1 year low of $21.00 and a 1 year high of $36.60. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.69 and a current ratio of 1.69.
GTT Communications (NYSE:GTT) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The firm had revenue of $186.20 million for the quarter, compared to analyst estimates of $186.65 million. GTT Communications had a positive return on equity of 2.09% and a negative net margin of 3.78%. The business’s revenue for the quarter was up 44.5% compared to the same quarter last year. sell-side analysts forecast that GTT Communications, Inc. will post -0.5 earnings per share for the current fiscal year.
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Several research analysts have weighed in on the company. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. BidaskClub lowered GTT Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Finally, Cowen and Company set a $43.00 price target on GTT Communications and gave the stock a “buy” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.20.
Several large investors have recently bought and sold shares of GTT. BNP Paribas Arbitrage SA increased its position in shares of GTT Communications by 2,153.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the technology company’s stock worth $109,000 after purchasing an additional 3,295 shares during the last quarter. Airain ltd acquired a new position in shares of GTT Communications during the 2nd quarter worth approximately $216,000. Legal & General Group Plc increased its holdings in shares of GTT Communications by 14.1% during the 2nd quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock worth $234,000 after acquiring an additional 907 shares during the last quarter. Laurion Capital Management LP acquired a new position in shares of GTT Communications during the 2nd quarter worth approximately $266,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of GTT Communications during the 2nd quarter worth approximately $270,000. 59.14% of the stock is currently owned by hedge funds and other institutional investors.
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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