GTT Communications, Inc. (GTT) Shares Bought by Osterweis Capital Management Inc.

Osterweis Capital Management Inc. boosted its stake in shares of GTT Communications, Inc. (NYSE:GTT) by 89.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 201,092 shares of the company’s stock after buying an additional 94,742 shares during the period. Osterweis Capital Management Inc. owned approximately 0.54% of GTT Communications worth $5,781,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Timpani Capital Management LLC boosted its position in shares of GTT Communications by 13.6% in the third quarter. Timpani Capital Management LLC now owns 162,319 shares of the company’s stock worth $3,819,000 after buying an additional 19,382 shares in the last quarter. GAM Holding AG boosted its position in shares of GTT Communications by 182.3% in the third quarter. GAM Holding AG now owns 269,294 shares of the company’s stock worth $6,336,000 after buying an additional 173,905 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GTT Communications by 160.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,562,617 shares of the company’s stock worth $28,877,000 after buying an additional 963,243 shares in the last quarter. Kalmar Investments Inc. DE boosted its position in shares of GTT Communications by 56.9% in the second quarter. Kalmar Investments Inc. DE now owns 544,109 shares of the company’s stock worth $10,055,000 after buying an additional 197,264 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of GTT Communications by 3.2% in the second quarter. UBS Asset Management Americas Inc. now owns 16,100 shares of the company’s stock worth $298,000 after buying an additional 500 shares in the last quarter. 56.98% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of GTT Communications, Inc. (NYSE:GTT) traded up 0.52% on Tuesday, hitting $28.75. The stock had a trading volume of 100,741 shares. The firm has a market cap of $1.07 billion, a P/E ratio of 32.45 and a beta of 1.70. The firm’s 50-day moving average price is $28.40 and its 200 day moving average price is $24.48. GTT Communications, Inc. has a 12 month low of $13.52 and a 12 month high of $29.75.

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A number of equities analysts recently commented on the company. BTIG Research assumed coverage on GTT Communications in a report on Thursday, February 9th. They issued a “buy” rating and a $36.00 target price on the stock. Zacks Investment Research raised GTT Communications from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, February 7th. SunTrust Banks, Inc. began coverage on GTT Communications in a report on Monday, December 12th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and set a $30.00 price target (up from $28.00) on shares of GTT Communications in a report on Friday, November 11th. Six investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $32.33.

In other GTT Communications news, insider Richard Calder sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $27.62, for a total value of $276,200.00. Following the sale, the insider now directly owns 1,180,536 shares of the company’s stock, valued at $32,606,404.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Chris Mckee sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $27.63, for a total transaction of $193,410.00. Following the completion of the sale, the general counsel now directly owns 430,366 shares in the company, valued at $11,891,012.58. The disclosure for this sale can be found here. 29.86% of the stock is owned by insiders.

GTT Communications Company Profile

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.

5 Day Chart for NYSE:GTT

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