GTT Communications Inc. (GTT) Trading Down 4.4%
GTT Communications Inc. (NYSE:GTT)’s share price traded down 4.4% during mid-day trading on Thursday . The company traded as low as $20.18 and last traded at $20.29, with a volume of 65,950 shares. The stock had previously closed at $21.23.
A number of equities analysts have recently issued reports on the stock. Jefferies Group reiterated a “buy” rating on shares of GTT Communications in a research report on Saturday, August 6th. Drexel Hamilton restated a “buy” rating on shares of GTT Communications in a report on Tuesday, May 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $33.00.
The stock has a market capitalization of $775.18 million and a PE ratio of 25.69. The company’s 50 day moving average is $20.73 and its 200 day moving average is $17.69.
In other GTT Communications news, CEO Richard Calder sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $20.04, for a total value of $1,603,200.00. Following the transaction, the chief executive officer now directly owns 1,426,444 shares of the company’s stock, valued at approximately $28,585,937.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $20.19, for a total transaction of $141,330.00. Following the completion of the transaction, the general counsel now directly owns 474,501 shares in the company, valued at $9,580,175.19. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in GTT Communications stock. Ameriprise Financial Inc. bought a new stake in shares of GTT Communications Inc. (NYSE:GTT) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 117,535 shares of the company’s stock, valued at approximately $2,004,000. Ameriprise Financial Inc. owned approximately 0.33% of GTT Communications at the end of the most recent reporting period.
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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