GTT Communications Inc (GTT) Director Theodore B. Smith III Acquires 1,000 Shares
GTT Communications Inc (NYSE:GTT) Director Theodore B. Smith III purchased 1,000 shares of the stock in a transaction on Thursday, August 16th. The shares were bought at an average price of $39.94 per share, for a total transaction of $39,940.00. Following the acquisition, the director now owns 419,278 shares of the company’s stock, valued at $16,745,963.32. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of GTT Communications stock traded down $1.05 during midday trading on Friday, hitting $38.95. The company had a trading volume of 746,500 shares, compared to its average volume of 448,650. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 166.88 and a beta of 0.99. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 6.29. GTT Communications Inc has a 1-year low of $28.30 and a 1-year high of $62.32.
GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Friday, August 3rd. The technology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.25). The company had revenue of $326.80 million during the quarter, compared to analyst estimates of $297.68 million. GTT Communications had a negative return on equity of 45.46% and a negative net margin of 21.82%. The company’s revenue was up 71.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. research analysts forecast that GTT Communications Inc will post -1.35 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in GTT. Goldman Sachs Group Inc. acquired a new stake in shares of GTT Communications in the fourth quarter worth $452,000. Wells Fargo & Company MN grew its stake in shares of GTT Communications by 255.2% in the first quarter. Wells Fargo & Company MN now owns 292,222 shares of the technology company’s stock worth $16,570,000 after acquiring an additional 209,961 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of GTT Communications in the first quarter worth $123,000. Swiss National Bank grew its stake in shares of GTT Communications by 7.2% in the first quarter. Swiss National Bank now owns 56,700 shares of the technology company’s stock worth $3,215,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of GTT Communications in the first quarter worth $17,279,000. Institutional investors and hedge funds own 65.04% of the company’s stock.
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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