GTT Communications Inc. (GTT) Trading Down 2.3%
GTT Communications Inc. (NYSE:GTT) was down 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 traded. The stock had previously closed at $21.40.
A number of equities research analysts recently weighed in on GTT shares. Drexel Hamilton restated a “buy” rating on shares of GTT Communications in a research report on Tuesday, May 10th. Jefferies Group restated a “buy” rating on shares of GTT Communications in a research report on Saturday, August 6th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $33.00.
The company has a 50-day moving average of $20.64 and a 200 day moving average of $17.50. The company has a market cap of $767.02 million and a PE ratio of 25.42.
In related news, General Counsel Chris Mckee sold 7,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $20.19, for a total value of $141,330.00. Following the transaction, the general counsel now owns 474,501 shares of the company’s stock, valued at $9,580,175.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicola Adamo bought 5,000 shares of GTT Communications stock in a transaction that occurred 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 purchase, the director now owns 16,308 shares of the company’s stock, valued at $293,380.92. The disclosure for this purchase can be found here.
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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