GTT Communications Inc. (GTT) Trading Up 1.8%
GTT Communications Inc. (NYSE:GTT) was up 1.8% during mid-day trading on Friday . The stock traded as high as $20.58 and last traded at $20.52, with a volume of 82,578 shares. The stock had previously closed at $20.15.
A number of brokerages recently weighed in on GTT. Zacks Investment Research cut GTT Communications from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Drexel Hamilton reiterated a “buy” rating on shares of GTT Communications in a report on Tuesday, May 10th. Finally, Jefferies Group reiterated a “buy” rating on shares of GTT Communications in a report on Saturday, August 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.00.
The company has a market cap of $762.57 million and a P/E ratio of 25.27. The company has a 50-day moving average price of $20.32 and a 200 day moving average price of $17.22.
In other GTT Communications news, EVP Chris Mckee sold 56,000 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $20.05, for a total value of $1,122,800.00. Following the transaction, the executive vice president now owns 517,213 shares of the company’s stock, valued at $10,370,120.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Calder sold 10,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $20.17, for a total value of $201,700.00. Following the completion of the transaction, the insider now directly owns 1,349,996 shares in the company, valued at approximately $27,229,419.32. The disclosure for this sale 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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