GTT Communications Inc. (GTT) Stock Price Down 2.3%
GTT Communications Inc. (NYSE:GTT)’s share price dropped 2.3% on Thursday . The company traded as low as $20.87 and last traded at $20.90, with a volume of 109,529 shares changing hands. The stock had previously closed at $21.40.
GTT has been the topic of a number of analyst reports. Drexel Hamilton reiterated a “buy” rating on shares of GTT Communications in a research report on Tuesday, May 10th. Jefferies Group reiterated a “buy” rating on shares of GTT Communications in a research report on Saturday, May 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $33.00.
The company has a market cap of $777.40 million and a P/E ratio of 25.76. The company has a 50 day moving average of $20.52 and a 200 day moving average of $17.42.
In other GTT Communications news, Director Nicola Adamo acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $89,950.00. Following the transaction, the director now owns 16,308 shares of the company’s stock, valued at approximately $293,380.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $20.19, for a total value of $141,330.00. Following the sale, the general counsel now owns 474,501 shares of the company’s stock, valued at $9,580,175.19. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in GTT Communications stock. Schwab Charles Investment Management Inc. raised its position in GTT Communications Inc. (NYSE:GTT) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,154 shares of the company’s stock after buying an additional 10,485 shares during the period. Schwab Charles Investment Management Inc. owned 0.23% of GTT Communications worth $1,419,000 at the end of the most recent 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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