GTT Communications Inc. (GTT) Sees Unusually-High Trading Volume
GTT Communications Inc. (NYSE:GTT) saw strong trading volume on Tuesday . 350,343 shares changed hands during trading, an increase of 93% from the previous session’s volume of 181,760 shares.The stock last traded at $21.99 and had previously closed at $21.38.
Several equities research analysts recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of GTT Communications in a research note on Saturday, May 14th. Drexel Hamilton reaffirmed a “buy” rating on shares of GTT Communications in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $33.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/07/gtt-communications-inc-gtt-sees-unusually-high-trading-volume.html
The company’s 50 day moving average price is $20.80 and its 200 day moving average price is $17.82. The stock has a market cap of $815.21 million and a P/E ratio of 27.01.
In related news, insider Richard Calder sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $21.23, for a total value of $212,300.00. Following the sale, the insider now directly owns 1,323,890 shares of the company’s stock, valued at $28,106,184.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Mckee sold 56,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $20.05, for a total transaction of $1,122,800.00. Following the completion of the sale, the executive vice president now directly owns 517,213 shares in the company, valued at $10,370,120.65. The disclosure for this sale can be found here.
GTT Communications, Inc is a provider of cloud networking services. The Company offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) solutions to meet the needs of multinational clients.
Receive News & 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 companies with MarketBeat.com’s FREE daily email newsletter.