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.

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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.

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

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