GTT Communications Inc (NYSE:GTT) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.94 and last traded at $16.08, with a volume of 213527 shares changing hands. The stock had previously closed at $17.31.

A number of analysts have recently issued reports on the company. BTIG Research lowered GTT Communications from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Craig Hallum restated a “buy” rating and issued a $40.00 target price (down previously from $45.00) on shares of GTT Communications in a report on Monday, June 24th. ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Oppenheimer assumed coverage on Alcon in a report on Thursday, May 9th. They issued an “outperform” rating and a $69.00 target price for the company. Finally, Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $41.56.

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 9.77. The firm has a fifty day simple moving average of $21.73. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -9.82 and a beta of 1.59.

GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.20). GTT Communications had a negative return on equity of 16.23% and a negative net margin of 14.28%. The firm had revenue of $450.20 million for the quarter, compared to analysts’ expectations of $456.93 million. During the same quarter in the prior year, the business posted ($0.69) earnings per share. GTT Communications’s revenue was up 72.7% on a year-over-year basis. On average, equities research analysts expect that GTT Communications Inc will post -0.35 EPS for the current fiscal year.

In related news, Director H Brian Thompson sold 2,400 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $17.07, for a total transaction of $40,968.00. Following the completion of the sale, the director now directly owns 617,621 shares in the company, valued at $10,542,790.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Chris Mckee sold 954 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $26.75, for a total value of $25,519.50. Following the sale, the general counsel now owns 484,545 shares of the company’s stock, valued at $12,961,578.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,436 shares of company stock valued at $743,573. 40.84% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its holdings in GTT Communications by 7.2% during the fourth quarter. New York State Common Retirement Fund now owns 41,700 shares of the technology company’s stock valued at $987,000 after buying an additional 2,800 shares in the last quarter. BlackRock Inc. raised its holdings in GTT Communications by 2.1% during the fourth quarter. BlackRock Inc. now owns 2,758,597 shares of the technology company’s stock valued at $65,269,000 after buying an additional 57,081 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in GTT Communications by 4.0% during the fourth quarter. Bank of New York Mellon Corp now owns 163,080 shares of the technology company’s stock valued at $3,859,000 after buying an additional 6,265 shares in the last quarter. Citigroup Inc. raised its holdings in GTT Communications by 1,180.1% during the fourth quarter. Citigroup Inc. now owns 5,159 shares of the technology company’s stock valued at $122,000 after buying an additional 4,756 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in GTT Communications by 69.9% during the fourth quarter. Bessemer Group Inc. now owns 7,400 shares of the technology company’s stock valued at $175,000 after buying an additional 3,045 shares in the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

GTT Communications Company Profile (NYSE:GTT)

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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