GTT Communications Inc (NYSE:GTT) General Counsel Chris Mckee sold 2,211 shares of GTT Communications stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $40.05, for a total transaction of $88,550.55. Following the completion of the sale, the general counsel now owns 416,266 shares of the company’s stock, valued at approximately $16,671,453.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Monday, July 16th, Chris Mckee sold 7,000 shares of GTT Communications stock. The stock was sold at an average price of $46.10, for a total transaction of $322,700.00.
  • On Friday, June 15th, Chris Mckee sold 7,000 shares of GTT Communications stock. The stock was sold at an average price of $50.33, for a total transaction of $352,310.00.

Shares of NYSE:GTT opened at $38.95 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of 162.29 and a beta of 0.99. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 6.29. GTT Communications Inc has a 12 month low of $28.30 and a 12 month high of $62.32.

GTT Communications (NYSE:GTT) last issued its earnings results on Friday, August 3rd. The technology company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.25). The firm had revenue of $326.80 million during the quarter, compared to analyst estimates of $297.68 million. GTT Communications had a negative net margin of 21.82% and a negative return on equity of 45.46%. GTT Communications’s quarterly revenue was up 71.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. research analysts expect that GTT Communications Inc will post -1.35 EPS for the current year.

Several brokerages have weighed in on GTT. ValuEngine upgraded shares of GTT Communications from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Raymond James began coverage on shares of GTT Communications in a research note on Monday, April 30th. They issued an “outperform” rating and a $60.00 price objective for the company. KeyCorp upgraded shares of GTT Communications from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective for the company in a research note on Friday, May 4th. Zacks Investment Research cut shares of GTT Communications from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 12th. Finally, William Blair reiterated a “buy” rating on shares of GTT Communications in a research note on Monday, August 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $52.11.

Several large investors have recently modified their holdings of GTT. Boston Financial Mangement LLC grew its holdings in shares of GTT Communications by 9.9% during the 2nd quarter. Boston Financial Mangement LLC now owns 163,604 shares of the technology company’s stock valued at $7,362,000 after purchasing an additional 14,678 shares during the last quarter. Skye Global Management LP bought a new stake in shares of GTT Communications during the 1st quarter valued at approximately $11,625,000. Lisanti Capital Growth LLC grew its holdings in shares of GTT Communications by 53.9% during the 1st quarter. Lisanti Capital Growth LLC now owns 46,130 shares of the technology company’s stock valued at $2,616,000 after purchasing an additional 16,150 shares during the last quarter. Swiss National Bank grew its holdings in shares of GTT Communications by 7.2% during the 1st quarter. Swiss National Bank now owns 56,700 shares of the technology company’s stock valued at $3,215,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of GTT Communications by 13.5% during the 1st quarter. Principal Financial Group Inc. now owns 24,996 shares of the technology company’s stock valued at $1,417,000 after purchasing an additional 2,977 shares during the last quarter. Institutional investors own 65.04% 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.

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

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