Richard Calder Sells 4,860 Shares of GTT Communications Inc (NYSE:GTT) Stock

GTT Communications Inc (NYSE:GTT) CEO Richard Calder sold 4,860 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $41.54, for a total transaction of $201,884.40. Following the transaction, the chief executive officer now owns 1,337,817 shares in the company, valued at approximately $55,572,918.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Tuesday, May 28th, Richard Calder sold 1,160 shares of GTT Communications stock. The stock was sold at an average price of $25.87, for a total transaction of $30,009.20.
  • On Wednesday, May 22nd, Richard Calder sold 1,533 shares of GTT Communications stock. The stock was sold at an average price of $26.75, for a total transaction of $41,007.75.
  • On Monday, May 20th, Richard Calder sold 1,757 shares of GTT Communications stock. The stock was sold at an average price of $25.43, for a total transaction of $44,680.51.
  • On Wednesday, April 10th, Richard Calder sold 1,321 shares of GTT Communications stock. The stock was sold at an average price of $39.30, for a total transaction of $51,915.30.
  • On Monday, February 25th, Richard Calder sold 3,234 shares of GTT Communications stock. The stock was sold at an average price of $32.43, for a total transaction of $104,878.62.
  • On Thursday, February 21st, Richard Calder sold 1,107 shares of GTT Communications stock. The stock was sold at an average price of $31.06, for a total transaction of $34,383.42.
  • On Tuesday, February 19th, Richard Calder sold 1,200 shares of GTT Communications stock. The stock was sold at an average price of $29.49, for a total transaction of $35,388.00.

Shares of GTT stock traded up $0.02 on Thursday, hitting $25.00. The company’s stock had a trading volume of 356,092 shares, compared to its average volume of 470,983. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 9.77. GTT Communications Inc has a fifty-two week low of $21.68 and a fifty-two week high of $52.45. The firm has a market cap of $1.41 billion, a PE ratio of -15.72 and a beta of 1.50.

GTT Communications (NYSE:GTT) last released its quarterly earnings data on Thursday, February 28th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. GTT Communications had a negative net margin of 14.28% and a negative return on equity of 16.23%. The business had revenue of $454.80 million during the quarter, compared to analyst estimates of $453.79 million. As a group, analysts forecast that GTT Communications Inc will post -0.35 EPS for the current fiscal year.

GTT has been the subject of a number of recent analyst reports. BTIG Research decreased their price objective on shares of GTT Communications to $49.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Zacks Investment Research lowered shares of GTT Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. KeyCorp decreased their price objective on shares of GTT Communications from $57.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. ValuEngine lowered shares of GTT Communications from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Oppenheimer decreased their price objective on shares of GTT Communications from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $41.75.

Several hedge funds have recently added to or reduced their stakes in the stock. Cannell Capital LLC bought a new position in GTT Communications in the 4th quarter worth $82,000. AlphaOne Investment Services LLC raised its holdings in GTT Communications by 67.6% in the 1st quarter. AlphaOne Investment Services LLC now owns 2,900 shares of the technology company’s stock worth $101,000 after acquiring an additional 1,170 shares during the period. Citigroup Inc. raised its holdings in GTT Communications by 1,180.1% in the 4th quarter. Citigroup Inc. now owns 5,159 shares of the technology company’s stock worth $122,000 after acquiring an additional 4,756 shares during the period. Bessemer Group Inc. raised its holdings in GTT Communications by 69.9% in the 4th quarter. Bessemer Group Inc. now owns 7,400 shares of the technology company’s stock worth $175,000 after acquiring an additional 3,045 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in GTT Communications by 16.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,582 shares of the technology company’s stock worth $179,000 after acquiring an additional 1,044 shares during the period. 87.00% of the stock is owned by institutional investors and hedge funds.

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About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers in the United States, Europe, and internationally. The company offers private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless Internet access services; managed equipment, security, and hosting services; and voice services consisting of session initiation protocol trunking and hosted private branch exchange services.

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