Oppenheimer Asset Management Inc. boosted its position in GTT Communications, Inc. (NYSE:GTT) by 144.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,107 shares of the technology company’s stock after purchasing an additional 13,644 shares during the period. Oppenheimer Asset Management Inc. owned about 0.05% of GTT Communications worth $731,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Lyon Street Capital LLC raised its stake in shares of GTT Communications by 9.2% in the third quarter. Lyon Street Capital LLC now owns 308,255 shares of the technology company’s stock worth $9,756,000 after buying an additional 25,944 shares during the period. Spruce House Investment Management LLC bought a new position in shares of GTT Communications in the third quarter worth about $59,723,000. Dimensional Fund Advisors LP raised its stake in shares of GTT Communications by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,656,706 shares of the technology company’s stock worth $52,435,000 after buying an additional 24,385 shares during the period. Messner & Smith Theme Value Investment Management Ltd. CA raised its stake in shares of GTT Communications by 83.4% in the third quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 78,059 shares of the technology company’s stock worth $2,471,000 after buying an additional 35,507 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of GTT Communications by 24.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 145,100 shares of the technology company’s stock worth $4,593,000 after buying an additional 28,233 shares during the period. 65.42% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded GTT Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.25.
GTT Communications, Inc. (NYSE GTT) opened at $42.95 on Friday. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.91 and a quick ratio of 0.91. GTT Communications, Inc. has a 12 month low of $22.95 and a 12 month high of $43.05. The company has a market capitalization of $1,822.94, a PE ratio of 466.11 and a beta of 1.48.
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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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