GTT Communications, Inc. (NYSE:GTT) insider Richard Calder sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $39.53, for a total value of $395,300.00. Following the transaction, the insider now owns 1,262,855 shares of the company’s stock, valued at $49,920,658.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Richard Calder also recently made the following trade(s):
- On Wednesday, November 1st, Richard Calder sold 10,000 shares of GTT Communications stock. The shares were sold at an average price of $36.33, for a total value of $363,300.00.
- On Monday, October 2nd, Richard Calder sold 10,000 shares of GTT Communications stock. The shares were sold at an average price of $31.99, for a total value of $319,900.00.
Shares of GTT Communications, Inc. (GTT) traded down $0.20 on Monday, hitting $39.35. The stock had a trading volume of 312,554 shares, compared to its average volume of 270,670. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 4.08. The stock has a market cap of $1,718.65, a PE ratio of 439.44 and a beta of 1.48. GTT Communications, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $40.95.
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of GTT Communications by 2,153.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the technology company’s stock valued at $109,000 after buying an additional 3,295 shares during the period. Airain ltd acquired a new stake in shares of GTT Communications during the 2nd quarter worth about $216,000. Legal & General Group Plc raised its position in shares of GTT Communications by 14.1% during the 2nd quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock worth $234,000 after acquiring an additional 907 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of GTT Communications by 52.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock worth $250,000 after acquiring an additional 2,726 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of GTT Communications during the 2nd quarter worth about $266,000. Institutional investors and hedge funds own 65.42% of the company’s stock.
Separately, Zacks Investment Research upgraded GTT Communications from a “sell” rating to a “hold” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $36.20.
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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.
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