GTT Communications, Inc. (NYSE:GTT) General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $30.37, for a total value of $212,590.00. Following the completion of the transaction, the general counsel now directly owns 418,457 shares in the company, valued at $12,708,539.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Chris Mckee also recently made the following trade(s):

  • On Monday, July 3rd, Chris Mckee sold 7,000 shares of GTT Communications stock. The shares were sold at an average price of $30.97, for a total value of $216,790.00.
  • On Thursday, June 1st, Chris Mckee sold 7,000 shares of GTT Communications stock. The shares were sold at an average price of $32.85, for a total value of $229,950.00.

GTT Communications, Inc. (NYSE GTT) opened at 31.95 on Friday. GTT Communications, Inc. has a 52-week low of $19.86 and a 52-week high of $34.20. The firm has a 50-day moving average price of $31.40 and a 200 day moving average price of $28.73. The stock’s market capitalization is $1.32 billion.

GTT Communications (NYSE:GTT) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. GTT Communications had a negative net margin of 1.88% and a positive return on equity of 4.60%. The business had revenue of $186.20 million during the quarter, compared to analyst estimates of $186.65 million. The business’s revenue was up 44.5% on a year-over-year basis. On average, equities research analysts predict that GTT Communications, Inc. will post ($0.15) EPS for the current year.

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Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in GTT Communications by 239.9% in the second quarter. Russell Investments Group Ltd. now owns 397,751 shares of the technology company’s stock valued at $12,589,000 after buying an additional 280,744 shares during the last quarter. Bank of Montreal Can raised its stake in GTT Communications by 27,059.6% in the second quarter. Bank of Montreal Can now owns 226,511 shares of the technology company’s stock valued at $7,169,000 after buying an additional 225,677 shares during the last quarter. Emerald Advisers Inc. PA raised its stake in GTT Communications by 19.9% in the second quarter. Emerald Advisers Inc. PA now owns 1,169,966 shares of the technology company’s stock valued at $37,029,000 after buying an additional 194,407 shares during the last quarter. Bank of New York Mellon Corp raised its stake in GTT Communications by 106.4% in the first quarter. Bank of New York Mellon Corp now owns 305,442 shares of the technology company’s stock valued at $7,438,000 after buying an additional 157,440 shares during the last quarter. Finally, Kennedy Capital Management Inc. raised its stake in GTT Communications by 60.2% in the first quarter. Kennedy Capital Management Inc. now owns 412,699 shares of the technology company’s stock valued at $10,049,000 after buying an additional 155,130 shares during the last quarter. 57.23% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on GTT. BidaskClub lowered GTT Communications from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research lowered GTT Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Cowen and Company raised their price objective on GTT Communications from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. GTT Communications presently has an average rating of “Buy” and a consensus target price of $35.29.

About GTT Communications

GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.

Insider Buying and Selling by Quarter for GTT Communications (NYSE:GTT)

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