Chris Mckee Sells 780 Shares of GTT Communications Inc (GTT) Stock

GTT Communications Inc (NYSE:GTT) General Counsel Chris Mckee sold 780 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $25.43, for a total value of $19,835.40. Following the completion of the sale, the general counsel now owns 485,499 shares in the company, valued at approximately $12,346,239.57. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

  • On Friday, May 3rd, Chris Mckee sold 2,642 shares of GTT Communications stock. The stock was sold at an average price of $41.54, for a total value of $109,748.68.
  • On Wednesday, April 10th, Chris Mckee sold 371 shares of GTT Communications stock. The stock was sold at an average price of $39.30, for a total value of $14,580.30.
  • On Wednesday, March 6th, Chris Mckee sold 3,584 shares of GTT Communications stock. The stock was sold at an average price of $32.11, for a total value of $115,082.24.
  • On Monday, February 25th, Chris Mckee sold 1,720 shares of GTT Communications stock. The stock was sold at an average price of $32.43, for a total value of $55,779.60.
  • On Thursday, February 21st, Chris Mckee sold 667 shares of GTT Communications stock. The stock was sold at an average price of $31.06, for a total value of $20,717.02.

Shares of NYSE:GTT opened at $27.24 on Wednesday. GTT Communications Inc has a 1 year low of $21.68 and a 1 year high of $52.45. The company has a market cap of $1.44 billion, a PE ratio of -17.13 and a beta of 1.50. The company has a debt-to-equity ratio of 9.77, a quick ratio of 0.62 and a current ratio of 0.60.

GTT Communications (NYSE:GTT) last announced its earnings results on Thursday, February 28th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $454.80 million for the quarter, compared to analyst estimates of $453.79 million. Sell-side analysts expect that GTT Communications Inc will post -0.35 EPS for the current fiscal year.

GTT has been the topic of several recent research reports. Zacks Investment Research upgraded GTT Communications from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Thursday, January 24th. ValuEngine upgraded GTT Communications from a “hold” rating to a “buy” rating in a research report on Monday, April 15th. BTIG Research decreased their target price on GTT Communications to $49.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Oppenheimer decreased their target price on GTT Communications from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, KeyCorp decreased their target price on GTT Communications from $57.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. GTT Communications has an average rating of “Buy” and an average target price of $41.75.

Large investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL lifted its position in shares of GTT Communications by 2.6% during the 4th quarter. Virginia Retirement Systems ET AL now owns 15,500 shares of the technology company’s stock valued at $367,000 after buying an additional 400 shares in the last quarter. Phoenician Capital LLC purchased a new position in GTT Communications in the 4th quarter valued at $9,348,000. BlackRock Inc. lifted its holdings in GTT Communications by 2.1% in the 4th quarter. BlackRock Inc. now owns 2,758,597 shares of the technology company’s stock valued at $65,269,000 after purchasing an additional 57,081 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in GTT Communications by 89.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 658,686 shares of the technology company’s stock valued at $28,587,000 after purchasing an additional 310,518 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in GTT Communications by 27.5% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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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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