GTT Communications, Inc. (GTT) Insider Richard Calder Sells 10,000 Shares of Stock

GTT Communications, Inc. (NYSE:GTT) insider Richard Calder sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.33, for a total value of $363,300.00. Following the completion of the transaction, the insider now directly owns 1,113,679 shares in the company, valued at approximately $40,459,958.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, October 2nd, Richard Calder sold 10,000 shares of GTT Communications stock. The stock was sold at an average price of $31.99, for a total value of $319,900.00.
  • On Friday, September 1st, Richard Calder sold 10,000 shares of GTT Communications stock. The stock was sold at an average price of $31.34, for a total value of $313,400.00.

GTT Communications, Inc. (NYSE GTT) traded up $0.30 during trading on Friday, reaching $35.30. The company’s stock had a trading volume of 2,630,000 shares, compared to its average volume of 304,572. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 5.01. GTT Communications, Inc. has a one year low of $21.00 and a one year high of $36.60. The firm has a market capitalization of $1,530.00, a price-to-earnings ratio of 388.33 and a beta of 1.33.

GTT Communications (NYSE:GTT) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. GTT Communications had a positive return on equity of 2.09% and a negative net margin of 3.78%. The business had revenue of $186.20 million for the quarter, compared to analyst estimates of $186.65 million. The business’s revenue for the quarter was up 44.5% compared to the same quarter last year. equities analysts forecast that GTT Communications, Inc. will post -0.43 EPS for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of GTT. BNP Paribas Arbitrage SA lifted its stake in shares of GTT Communications by 2,153.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the technology company’s stock valued at $109,000 after acquiring an additional 3,295 shares during the period. Airain ltd acquired a new position in shares of GTT Communications during the second quarter valued at $216,000. Legal & General Group Plc lifted its stake in shares of GTT Communications by 14.1% during the second quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock valued at $234,000 after acquiring an additional 907 shares during the period. Laurion Capital Management LP acquired a new position in shares of GTT Communications during the second quarter valued at $266,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of GTT Communications during the second quarter valued at $270,000. 59.56% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on the company. BidaskClub lowered GTT Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Cowen and Company set a $43.00 price objective on GTT Communications and gave the stock a “buy” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.20.

About GTT Communications

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.

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

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