GTT Communications Inc (GTT) CFO Sells $21,183.19 in Stock

GTT Communications Inc (NYSE:GTT) CFO Michael Sicoli sold 833 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $25.43, for a total value of $21,183.19. Following the sale, the chief financial officer now directly owns 395,231 shares of the company’s stock, valued at approximately $10,050,724.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Michael Sicoli also recently made the following trade(s):

  • On Friday, May 3rd, Michael Sicoli sold 2,778 shares of GTT Communications stock. The shares were sold at an average price of $41.54, for a total value of $115,398.12.
  • On Monday, April 15th, Michael Sicoli sold 419 shares of GTT Communications stock. The shares were sold at an average price of $40.70, for a total value of $17,053.30.
  • On Monday, February 25th, Michael Sicoli sold 1,902 shares of GTT Communications stock. The shares were sold at an average price of $32.43, for a total value of $61,681.86.
  • On Thursday, February 21st, Michael Sicoli sold 531 shares of GTT Communications stock. The shares were sold at an average price of $31.06, for a total value of $16,492.86.

Shares of NYSE GTT traded up $1.64 on Tuesday, hitting $27.39. The company had a trading volume of 8,789 shares, compared to its average volume of 424,677. GTT Communications Inc has a 12-month low of $21.68 and a 12-month high of $52.45. The company has a debt-to-equity ratio of 9.77, a current ratio of 0.60 and a quick ratio of 0.62. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -17.23 and a beta of 1.50.

GTT Communications (NYSE:GTT) last issued its earnings results on Thursday, February 28th. The technology company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.05. GTT Communications had a negative return on equity of 16.23% and a negative net margin of 14.28%. The company had revenue of $454.80 million during the quarter, compared to the consensus estimate of $453.79 million. Research analysts expect that GTT Communications Inc will post -0.35 EPS for the current fiscal year.

A number of research firms have issued reports on GTT. ValuEngine downgraded GTT Communications from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Oppenheimer lowered their price target on GTT Communications from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Zacks Investment Research raised GTT Communications from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, May 1st. BTIG Research downgraded GTT Communications from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. Finally, KeyCorp lowered their price target on GTT Communications from $57.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.75.

Hedge funds and other institutional investors have recently modified their holdings of the company. Spruce House Investment Management LLC boosted its holdings in GTT Communications by 13.5% in the first quarter. Spruce House Investment Management LLC now owns 12,375,000 shares of the technology company’s stock valued at $429,413,000 after purchasing an additional 1,475,000 shares during the last quarter. MFN Partners Management LP purchased a new position in GTT Communications in the fourth quarter valued at about $23,660,000. Vanguard Group Inc. boosted its holdings in GTT Communications by 27.5% in the third quarter. Vanguard Group Inc. now owns 3,777,509 shares of the technology company’s stock valued at $163,944,000 after purchasing an additional 814,417 shares during the last quarter. Nantahala Capital Management LLC boosted its holdings in GTT Communications by 318.9% in the fourth quarter. Nantahala Capital Management LLC now owns 886,581 shares of the technology company’s stock valued at $20,977,000 after purchasing an additional 674,923 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in GTT Communications by 464.5% in the third quarter. Morgan Stanley now owns 524,911 shares of the technology company’s stock valued at $22,780,000 after purchasing an additional 431,926 shares during the last quarter. 85.37% of the stock is owned by institutional investors.

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About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers in the United States, Europe, and internationally. The company offers private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless Internet access services; managed equipment, security, and hosting services; and voice services consisting of session initiation protocol trunking and hosted private branch exchange services.

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

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