Airain ltd purchased a new position in GTT Communications, Inc. (NYSE:GTT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,811 shares of the technology company’s stock, valued at approximately $216,000.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its holdings in shares of GTT Communications by 2,153.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the technology company’s stock worth $109,000 after acquiring an additional 3,295 shares during the period. Invictus RG bought a new position in shares of GTT Communications in the first quarter worth $117,000. Nordea Investment Management AB bought a new position in shares of GTT Communications in the first quarter worth $117,000. ClariVest Asset Management LLC bought a new position in shares of GTT Communications in the first quarter worth $117,000. Finally, Fifth Third Bancorp boosted its holdings in shares of GTT Communications by 11.9% in the first quarter. Fifth Third Bancorp now owns 5,034 shares of the technology company’s stock worth $123,000 after acquiring an additional 536 shares during the period. 59.77% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This story was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/11/airain-ltd-takes-position-in-gtt-communications-inc-gtt.html.

In related news, Director Howard E. Janzen sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $30.32, for a total value of $181,920.00. Following the completion of the transaction, the director now owns 240,728 shares of the company’s stock, valued at approximately $7,298,872.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Chris Mckee sold 7,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $30.97, for a total transaction of $216,790.00. Following the completion of the transaction, the general counsel now directly owns 425,101 shares of the company’s stock, valued at approximately $13,165,377.97. The disclosure for this sale can be found here. Insiders sold a total of 63,000 shares of company stock valued at $1,943,370 in the last ninety days. 25.70% of the stock is currently owned by insiders.

Shares of GTT Communications, Inc. (NYSE:GTT) opened at 29.65 on Monday. The stock’s market cap is $1.23 billion. GTT Communications, Inc. has a 12 month low of $20.80 and a 12 month high of $34.20. The company has a 50 day moving average price of $30.20 and a 200-day moving average price of $29.03.

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

A number of equities analysts have recently commented on the company. Cowen and Company set a $43.00 price target on GTT Communications and gave the stock a “buy” rating in a report on Friday, August 4th. BidaskClub lowered GTT Communications from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Finally, Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. GTT Communications has a consensus rating of “Buy” and a consensus target price 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.

Want to see what other hedge funds are holding GTT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GTT Communications, Inc. (NYSE:GTT).

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

Receive News & Stock Ratings for GTT Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GTT Communications Inc. and related stocks with our FREE daily email newsletter.