Cannell Capital Lowers stake in GTT Communications Inc (GTT)

GTT Communications Inc (GTT) : Cannell Capital reduced its stake in GTT Communications Inc by 29.02% during the most recent quarter end. The investment management company now holds a total of 1,009,281 shares of GTT Communications Inc which is valued at $21,013,230 after selling 412,658 shares in GTT Communications Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.GTT Communications Inc makes up approximately 8.02% of Cannell Capital’s portfolio.

Other Hedge Funds, Including , Citadel Advisors sold out all of its stake in GTT during the most recent quarter. The investment firm sold 20,105 shares of GTT which is valued $418,586. Acrospire Investment Management sold out all of its stake in GTT during the most recent quarter. The investment firm sold 3,500 shares of GTT which is valued $73,395.California State Teachers Retirement System boosted its stake in GTT in the latest quarter, The investment management firm added 3,490 additional shares and now holds a total of 55,310 shares of GTT Communications Inc which is valued at $1,132,749.Emerald Advisers Incpa boosted its stake in GTT in the latest quarter, The investment management firm added 17,030 additional shares and now holds a total of 982,513 shares of GTT Communications Inc which is valued at $20,170,992. GTT Communications Inc makes up approx 0.92% of Emerald Advisers Incpa’s portfolio. Magee Thomson Investment Partners sold out all of its stake in GTT during the most recent quarter. The investment firm sold 179 shares of GTT which is valued $3,757.

GTT Communications Inc opened for trading at $20.65 and hit $21.01 on the upside on Monday, eventually ending the session at $20.93, with a gain of 1.16% or 0.24 points. The heightened volatility saw the trading volume jump to 1,10,013 shares. Company has a market cap of $776 M.

GTT Communications Inc. (GTT) operates a global Tier 1 Internet protocol (IP) network with interconnected Ethernet service platforms around the world. The Company provides cloud networking services. The Company provides services in over 100 countries. GTT has deployed network assets in North America Europe and Asia to provide Internet Access IP transit and Ethernet transport services. GTT’s core network consists of a global Layer 2 switched Ethernet diversely routed 10 gigabyte (Gb) mesh network as well as IP transit or Internet access through approximately 200 Points of Presence (PoPs) delivering cloud networking services to enterprise Government and wholesale customers. GTT has network connectivity in United States cities and European cities and Ethernet hubs with various carriers and multiple peering connections to other Tier 1 IP providers. The Company offers a range of managed services.

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