Nordea Investment Management AB lifted its position in shares of GTT Communications, Inc. (NYSE:GTT) by 79.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,600 shares of the technology company’s stock after acquiring an additional 3,800 shares during the quarter. Nordea Investment Management AB’s holdings in GTT Communications were worth $272,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. D.A. Davidson & CO. lifted its stake in GTT Communications by 4.6% in the 2nd quarter. D.A. Davidson & CO. now owns 20,224 shares of the technology company’s stock valued at $640,000 after buying an additional 890 shares in the last quarter. Teachers Advisors LLC lifted its stake in GTT Communications by 2.1% in the 1st quarter. Teachers Advisors LLC now owns 43,757 shares of the technology company’s stock valued at $1,065,000 after buying an additional 906 shares in the last quarter. Legal & General Group Plc lifted its stake in GTT Communications by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock valued at $234,000 after buying an additional 907 shares in the last quarter. American International Group Inc. lifted its stake in GTT Communications by 8.1% in the 3rd quarter. American International Group Inc. now owns 20,768 shares of the technology company’s stock valued at $657,000 after buying an additional 1,552 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in GTT Communications by 8.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 27,150 shares of the technology company’s stock valued at $859,000 after buying an additional 2,000 shares in the last quarter. 65.42% of the stock is currently owned by hedge funds and other institutional investors.
GTT Communications, Inc. (NYSE GTT) traded down $0.10 on Monday, reaching $40.10. 204,900 shares of the company’s stock were exchanged, compared to its average volume of 270,075. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.91 and a quick ratio of 0.91. GTT Communications, Inc. has a twelve month low of $22.95 and a twelve month high of $41.00. The stock has a market cap of $1,742.55, a price-to-earnings ratio of 445.56 and a beta of 1.48.
Separately, Zacks Investment Research raised shares of GTT Communications from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. GTT Communications currently has a consensus rating of “Buy” and a consensus target price of $36.20.
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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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