Trafelet Brokaw Capital Management LP Has Cut Its Holding in Gtt Communications INC (GTT) by $6.36 Million as Stock Price Declined

March 15, 2018 - By Richard Conner

Remy Trafelet decreased its stake in Gtt Communications Inc (GTT) by 24.07% based on its latest 2017Q3 regulatory filing with the SEC. Trafelet Brokaw Capital Management Lp sold 205,167 shares as the company’s stock declined 0.17% while stock markets rallied. The hedge fund run by Remy Trafelet held 647,319 shares of the public utilities company at the end of 2017Q3, valued at $20.49M, down from 852,486 at the end of the previous reported quarter. Trafelet Brokaw Capital Management Lp who had been investing in Gtt Communications Inc for a number of months, seems to be less bullish one the $2.69 billion market cap company. The stock decreased 1.39% or $0.85 during the last trading session, reaching $60.1. About 123,903 shares traded. GTT Communications, Inc. (NYSE:GTT) has risen 78.59% since March 15, 2017 and is uptrending. It has outperformed by 61.89% the S&P500.

Trafelet Brokaw Capital Management Lp, which manages about $505.41M and $136.61 million US Long portfolio, upped its stake in Applied Optoelectronics Inc (NASDAQ:AAOI) by 243,389 shares to 375,455 shares, valued at $24.28 million in 2017Q3, according to the filing.

Analysts await GTT Communications, Inc. (NYSE:GTT) to report earnings on May, 3. They expect $-0.08 EPS, down 260.00 % or $0.13 from last year’s $0.05 per share. After $0.04 actual EPS reported by GTT Communications, Inc. for the previous quarter, Wall Street now forecasts -300.00 % negative EPS growth.

More recent GTT Communications, Inc. (NYSE:GTT) news were published by: which released: “GTT Communications: Interoute Acquisition Biggest In History” on March 06, 2018. Also published the news titled: “GTT Communications’ (GTT) CEO Richard Calder on Q4 2017 Results – Earnings …” on March 01, 2018.‘s news article titled: “GTT Communications Acquires Accelerated Connections For Canadian Expansion” with publication date: March 12, 2018 was also an interesting one.

GTT Communications, Inc. (NYSE:GTT) Ratings Coverage

Among 10 analysts covering GTT Communications (NYSE:GTT), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. GTT Communications has $60.0 highest and $27 lowest target. $46.67’s average target is -22.35% below currents $60.1 stock price. GTT Communications had 23 analyst reports since August 7, 2015 according to SRatingsIntel. Cowen & Co maintained it with “Buy” rating and $59.0 target in Friday, March 2 report. Jefferies maintained the stock with “Buy” rating in Monday, June 26 report. The stock of GTT Communications, Inc. (NYSE:GTT) earned “Buy” rating by SunTrust on Friday, November 3. As per Friday, August 4, the company rating was maintained by Cowen & Co. The rating was maintained by SunTrust with “Buy” on Thursday, March 1. The stock of GTT Communications, Inc. (NYSE:GTT) has “Buy” rating given on Tuesday, June 27 by Oppenheimer. The company was maintained on Wednesday, October 25 by Jefferies. The firm has “Buy” rating by Oppenheimer given on Thursday, August 10. Craig Hallum maintained the stock with “Buy” rating in Monday, January 22 report. Oppenheimer maintained the shares of GTT in report on Wednesday, December 20 with “Buy” rating.

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