GTT Communications Inc. (GTT) Stock Price Down 4.4%
Shares of GTT Communications Inc. (NYSE:GTT) fell 4.4% during trading on Thursday . The company traded as low as $20.18 and last traded at $20.29, with a volume of 65,950 shares traded. The stock had previously closed at $21.23.
Several brokerages recently issued reports on GTT. Jefferies Group reaffirmed a “buy” rating on shares of GTT Communications in a research note on Saturday, August 6th. Drexel Hamilton reaffirmed a “buy” rating on shares of GTT Communications in a research note 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 stock. The company has a consensus rating of “Buy” and an average target price of $33.00.
The stock has a market capitalization of $792.60 million and a price-to-earnings ratio of 26.27. The firm’s 50 day moving average is $20.77 and its 200-day moving average is $17.71.
In related news, 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 value of $141,330.00. Following the completion of the sale, the general counsel now owns 474,501 shares in the company, valued at $9,580,175.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,603,200.00. Following the completion of the sale, the chief executive officer now owns 1,426,444 shares of the company’s stock, valued at approximately $28,585,937.76. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in GTT Communications stock. Ameriprise Financial Inc. acquired a new stake in shares of GTT Communications Inc. (NYSE:GTT) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 117,535 shares of the company’s stock, valued at approximately $2,004,000. Ameriprise Financial Inc. owned 0.33% of GTT Communications 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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