Insider Selling: GTT Communications Inc (GTT) Insider Sells 6,000 Shares of Stock

GTT Communications Inc (NYSE:GTT) insider Richard Calder sold 6,000 shares of GTT Communications stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $60.01, for a total value of $360,060.00. Following the completion of the transaction, the insider now owns 1,215,263 shares of the company’s stock, valued at approximately $72,927,932.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

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  • On Thursday, February 15th, Richard Calder sold 6,000 shares of GTT Communications stock. The shares were sold at an average price of $45.85, for a total value of $275,100.00.

GTT Communications Inc (NYSE:GTT) traded up $0.15 during trading hours on Friday, reaching $60.25. The company’s stock had a trading volume of 508,911 shares, compared to its average volume of 435,809. GTT Communications Inc has a 52 week low of $22.95 and a 52 week high of $62.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.34. The stock has a market cap of $2,693.99, a price-to-earnings ratio of -34.43, a P/E/G ratio of 49.06 and a beta of 1.10.

Several equities research analysts have commented on the company. Oppenheimer boosted their price objective on GTT Communications from $39.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Craig Hallum reiterated a “buy” rating and set a $50.00 price objective (up from $40.00) on shares of GTT Communications in a research note on Monday, January 22nd. William Blair reiterated an “outperform” rating on shares of GTT Communications in a research note on Monday, February 26th. Finally, Jefferies Group boosted their price objective on GTT Communications to $62.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $56.86.

A number of large investors have recently bought and sold shares of GTT. Spruce House Investment Management LLC purchased a new stake in GTT Communications during the 3rd quarter worth approximately $59,723,000. Bamco Inc. NY boosted its holdings in shares of GTT Communications by 68.8% during the 3rd quarter. Bamco Inc. NY now owns 2,278,200 shares of the technology company’s stock worth $72,105,000 after purchasing an additional 928,200 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of GTT Communications by 103.3% during the 4th quarter. Allianz Asset Management GmbH now owns 390,818 shares of the technology company’s stock worth $18,349,000 after purchasing an additional 198,605 shares during the last quarter. State Street Corp boosted its holdings in shares of GTT Communications by 19.3% during the 2nd quarter. State Street Corp now owns 556,708 shares of the technology company’s stock worth $17,618,000 after purchasing an additional 90,185 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of GTT Communications during the 3rd quarter worth approximately $2,046,000. Institutional investors own 66.76% of the company’s stock.

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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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