Kennedy Capital Management Inc. Has $9.15 Million Stake in GTT Communications, Inc. (GTT)

Kennedy Capital Management Inc. decreased its holdings in shares of GTT Communications, Inc. (NYSE:GTT) by 29.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,159 shares of the technology company’s stock after selling 123,540 shares during the quarter. Kennedy Capital Management Inc. owned about 0.70% of GTT Communications worth $9,152,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GTT. Teachers Advisors LLC grew its position in shares of GTT Communications by 2.3% during the 4th quarter. Teachers Advisors LLC now owns 42,851 shares of the technology company’s stock worth $1,232,000 after buying an additional 949 shares during the period. First Trust Advisors LP grew its position in shares of GTT Communications by 7.2% during the 1st quarter. First Trust Advisors LP now owns 85,521 shares of the technology company’s stock worth $2,082,000 after buying an additional 5,731 shares during the period. Bank of New York Mellon Corp grew its position in shares of GTT Communications by 106.4% during the 1st quarter. Bank of New York Mellon Corp now owns 305,442 shares of the technology company’s stock worth $7,438,000 after buying an additional 157,440 shares during the period. Sei Investments Co. grew its position in shares of GTT Communications by 92.1% during the 1st quarter. Sei Investments Co. now owns 5,557 shares of the technology company’s stock worth $135,000 after buying an additional 2,664 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of GTT Communications by 37.1% during the 1st quarter. Ameriprise Financial Inc. now owns 41,503 shares of the technology company’s stock worth $1,011,000 after buying an additional 11,228 shares during the period. Institutional investors own 59.77% of the company’s stock.

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GTT Communications, Inc. (GTT) opened at 29.65 on Friday. The company’s 50-day moving average is $30.20 and its 200 day moving average is $29.03. GTT Communications, Inc. has a 1-year low of $20.80 and a 1-year high of $34.20. The company’s market cap is $1.23 billion.

GTT Communications (NYSE:GTT) last released its earnings results on Thursday, August 3rd. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. The business had revenue of $186.20 million during the quarter, compared to the consensus estimate of $186.65 million. GTT Communications had a negative net margin of 1.88% and a positive return on equity of 4.17%. The business’s quarterly revenue was up 44.5% compared to the same quarter last year. On average, equities analysts predict that GTT Communications, Inc. will post ($0.42) EPS for the current fiscal year.

In other GTT Communications news, General Counsel Chris Mckee sold 7,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $31.35, for a total transaction of $219,450.00. Following the completion of the sale, the general counsel now owns 410,801 shares of the company’s stock, valued at approximately $12,878,611.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Calder sold 10,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $30.96, for a total transaction of $309,600.00. Following the sale, the insider now directly owns 1,153,478 shares of the company’s stock, valued at approximately $35,711,678.88. The disclosure for this sale can be found here. Insiders have sold a total of 63,000 shares of company stock valued at $1,943,370 in the last three months. Insiders own 25.70% of the company’s stock.

Several equities research analysts have recently commented on GTT shares. Zacks Investment Research upgraded shares of GTT Communications from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, July 17th. Cowen and Company lifted their price target on shares of GTT Communications from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, BidaskClub cut shares of GTT Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $35.14.

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.

Institutional Ownership by Quarter for GTT Communications (NYSE:GTT)

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