Richard Calder Sells 10,000 Shares of GTT Communications, Inc. (GTT) Stock
GTT Communications, Inc. (NYSE:GTT) insider Richard Calder sold 10,000 shares of GTT Communications stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.33, for a total transaction of $363,300.00. Following the completion of the transaction, the insider now owns 1,113,679 shares in the company, valued at approximately $40,459,958.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Richard Calder also recently made the following trade(s):
- On Monday, October 2nd, Richard Calder sold 10,000 shares of GTT Communications stock. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00.
- On Friday, September 1st, Richard Calder sold 10,000 shares of GTT Communications stock. The stock was sold at an average price of $31.34, for a total transaction of $313,400.00.
GTT Communications (NYSE:GTT) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The company had revenue of $186.20 million for the quarter, compared to analyst estimates of $186.65 million. GTT Communications had a negative net margin of 1.88% and a positive return on equity of 4.17%. The firm’s revenue was up 44.5% compared to the same quarter last year.
Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in GTT Communications by 2,153.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the technology company’s stock worth $109,000 after acquiring an additional 3,295 shares during the period. Airain ltd bought a new position in GTT Communications during the second quarter worth about $216,000. Legal & General Group Plc increased its position in GTT Communications by 14.1% during the second quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock worth $234,000 after acquiring an additional 907 shares during the period. Laurion Capital Management LP bought a new position in GTT Communications during the second quarter worth about $266,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in GTT Communications during the second quarter worth about $270,000. 59.56% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of GTT Communications from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Cowen and Company set a $43.00 price objective on shares of GTT Communications and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, BidaskClub downgraded shares of GTT Communications from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. GTT Communications currently has a consensus rating of “Hold” and an average price target of $36.20.
GTT Communications Company Profile
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.
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