GTT Communications, Inc. (NYSE:GTT) shares shot up 7.1% on Monday . The stock traded as high as $47.75 and last traded at $46.00. 778,145 shares were traded during mid-day trading, an increase of 186% from the average session volume of 271,848 shares. The stock had previously closed at $42.95.

Separately, Zacks Investment Research upgraded shares of GTT Communications from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. GTT Communications presently has a consensus rating of “Hold” and an average price target of $37.25.

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 4.08. The stock has a market capitalization of $1,998.94, a PE ratio of 511.11 and a beta of 1.48.

In other GTT Communications news, Director S Joseph Bruno sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $40.50, for a total transaction of $40,500.00. Following the transaction, the director now directly owns 108,467 shares in the company, valued at $4,392,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Chris Mckee sold 7,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $31.99, for a total transaction of $223,930.00. Following the transaction, the general counsel now owns 397,081 shares in the company, valued at $12,702,621.19. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 81,000 shares of company stock worth $63,250 and have sold 77,000 shares worth $1,907,290. 25.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bamco Inc. NY boosted its stake in shares of GTT Communications by 68.8% during the third quarter. Bamco Inc. NY now owns 2,278,200 shares of the technology company’s stock valued at $72,105,000 after purchasing an additional 928,200 shares during the period. Spruce House Investment Management LLC purchased a new stake in shares of GTT Communications during the third quarter valued at approximately $59,723,000. Dimensional Fund Advisors LP boosted its stake in shares of GTT Communications by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,656,706 shares of the technology company’s stock valued at $52,435,000 after purchasing an additional 24,385 shares during the period. Vanguard Group Inc. boosted its stake in shares of GTT Communications by 11.4% during the second quarter. Vanguard Group Inc. now owns 1,228,307 shares of the technology company’s stock valued at $38,876,000 after purchasing an additional 126,032 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of GTT Communications by 2.9% during the second quarter. Royal Bank of Canada now owns 859,355 shares of the technology company’s stock valued at $27,198,000 after purchasing an additional 24,273 shares during the period. Institutional investors and hedge funds own 65.41% of the company’s stock.

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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.

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