GTT Communications Inc (GTT) CFO Michael Sicoli Sells 419 Shares of Stock

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GTT Communications Inc (NYSE:GTT) CFO Michael Sicoli sold 419 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $40.70, for a total value of $17,053.30. Following the completion of the transaction, the chief financial officer now owns 398,842 shares in the company, valued at $16,232,869.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • On Monday, February 25th, Michael Sicoli sold 1,902 shares of GTT Communications stock. The stock was 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.
  • On Tuesday, February 19th, Michael Sicoli sold 570 shares of GTT Communications stock. The shares were sold at an average price of $29.49, for a total value of $16,809.30.
  • On Friday, February 1st, Michael Sicoli sold 4,857 shares of GTT Communications stock. The shares were sold at an average price of $26.32, for a total value of $127,836.24.

Shares of GTT stock opened at $42.89 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 7.68. GTT Communications Inc has a fifty-two week low of $21.68 and a fifty-two week high of $53.10.

A number of hedge funds have recently made changes to their positions in GTT. Cannell Capital LLC bought a new stake in GTT Communications in the fourth quarter valued at approximately $82,000. Citigroup Inc. lifted its position in GTT Communications by 1,180.1% in the fourth quarter. Citigroup Inc. now owns 5,159 shares of the technology company’s stock valued at $122,000 after purchasing an additional 4,756 shares during the last quarter. Bessemer Group Inc. lifted its position in GTT Communications by 69.9% in the fourth quarter. Bessemer Group Inc. now owns 7,400 shares of the technology company’s stock valued at $175,000 after purchasing an additional 3,045 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in GTT Communications by 16.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,582 shares of the technology company’s stock valued at $179,000 after purchasing an additional 1,044 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in GTT Communications by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,587 shares of the technology company’s stock valued at $321,000 after purchasing an additional 10,611 shares during the last quarter. Hedge funds and other institutional investors own 87.74% of the company’s stock.

A number of research firms recently weighed in on GTT. ValuEngine downgraded GTT Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded GTT Communications from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Tuesday, January 8th. BTIG Research dropped their target price on GTT Communications to $49.00 and set a “buy” rating for the company in a research report on Monday, April 8th. KeyCorp dropped their target price 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. Finally, Raymond James dropped their target price on GTT Communications from $53.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, December 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $40.63.

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About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.

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