26 Jan Adv. Jon Cartu Announced – GTT Communications (NYSE:GTT) Upgraded at ValuEngine
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded GTT Communications from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Cowen downgraded GTT Communications from an “outperform” rating to a “market perform” rating and set a $10.00 price target on the stock. in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. GTT Communications presently has an average rating of “Hold” and a consensus price target of $27.94.
Shares of NYSE:GTT traded down $0.25 during trading on Friday, hitting $12.76. The company had a trading volume of 237,434 shares, compared to its average volume of 567,409. The company has a debt-to-equity ratio of 12.59, a current ratio of 0.54 and a quick ratio of 0.54. The company has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $9.88. GTT Communications has a one year low of $4.67 and a one year high of $43.35. The stock has a market cap of $737.03 million, a price-to-earnings ratio of -5.10 and a beta of 1.61.
GTT Communications (NYSE:GTT) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.25). GTT Communications had a negative return on equity of 13.24% and a negative net margin of 7.95%. The business had revenue of $420.00 million during the quarter, compared to analysts’ expectations of $425.70 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that GTT Communications will post -1.75 earnings per share for the current year.
In other news, Director H Brian Thompson acquired 25,000 shares of GTT Communications stock in a transaction on Tuesday, November 26th. The shares were bought at an average cost of $6.32 per share, for a total transaction of $158,000.00. Following the acquisition, the director now directly owns 617,621 shares of the company’s stock, valued at approximately $3,903,364.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Conifer Management, L.L.C. sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $7.36, for a total value of $220,800.00. The disclosure for this sale can be found here. Insiders have acquired a total of 1,740,898 shares of company stock worth $17,982,280 over the last 90 days. 40.84% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in GTT Communications during the 4th quarter worth $49,000. Macquarie Group Ltd. increased its holdings in GTT Communications by 68.3% during the 2nd quarter. Macquarie Group Ltd. now owns 10,600 shares of the technology company’s stock worth $186,000 after purchasing an additional 4,300 shares during the period. Balyasny Asset Management LLC purchased a new position in shares of GTT Communications in the 2nd quarter valued at $277,000. Jane Street Group LLC purchased a new position in shares of GTT Communications in the 2nd quarter valued at $296,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of GTT Communications by 111.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,405 shares of the technology company’s stock valued at $358,000 after acquiring an additional 9,686 shares during the period. Institutional investors own 70.77% of the company’s stock.
GTT Communications Company Profile
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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