GTT Communications Inc. (GTT) Stock Price Up 3.6%
GTT Communications Inc. (NYSE:GTT)’s share price rose 3.6% on Thursday . The company traded as high as $19.05 and last traded at $18.97, with a volume of 130,054 shares changing hands. The stock had previously closed at $18.31.
Several equities analysts recently commented on GTT shares. Zacks Investment Research lowered shares of GTT Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Drexel Hamilton reaffirmed a “buy” rating on shares of GTT Communications in a research report on Tuesday, May 10th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of GTT Communications in a research report on Saturday, May 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. GTT Communications presently has a consensus rating of “Buy” and a consensus price target of $32.29.
The firm has a market capitalization of $740.17 million and a P/E ratio of 38.16. The stock has a 50 day moving average of $18.00 and a 200-day moving average of $16.26.
GTT Communications (NYSE:GTT) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The business had revenue of $124.40 million for the quarter, compared to the consensus estimate of $123.34 million. On average, equities research analysts forecast that GTT Communications Inc. will post $0.24 EPS for the current fiscal year.
In other GTT Communications news, Director Nicola Adamo acquired 5,000 shares of GTT Communications stock in a transaction dated Wednesday, June 1st. The stock was bought at an average price of $17.99 per share, for a total transaction of $89,950.00. Following the transaction, the director now owns 16,308 shares in the company, valued at approximately $293,380.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several hedge funds and institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of GTT Communications by 26.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 597,047 shares of the company’s stock valued at $10,186,000 after buying an additional 126,330 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its stake in GTT Communications by 1.6% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 2,036,427 shares of the company’s stock valued at $34,741,000 after buying an additional 32,583 shares in the last quarter. Finally, Russell Frank Co boosted its stake in GTT Communications by 27.6% in the fourth quarter. Russell Frank Co now owns 121,516 shares of the company’s stock valued at $2,080,000 after buying an additional 26,267 shares in the last quarter.
GTT Communications, Inc is a provider of cloud networking services. The Company offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) solutions to meet the needs of multinational clients.
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