Emerald Mutual Fund Advisers Trust Decreased Stake in Gtt Communications INC (GTT) by $6.49 Million as Stock Declined

June 22, 2018 - By Vivian Park

GTT Communications, Inc. (NYSE:GTT) Logo

Emerald Mutual Fund Advisers Trust decreased its stake in Gtt Communications Inc (GTT) by 15% based on its latest 2018Q1 regulatory filing with the SEC. Emerald Mutual Fund Advisers Trust sold 115,909 shares as the company’s stock declined 11.48% with the market. The institutional investor held 656,724 shares of the public utilities company at the end of 2018Q1, valued at $37.24 million, down from 772,633 at the end of the previous reported quarter. Emerald Mutual Fund Advisers Trust who had been investing in Gtt Communications Inc for a number of months, seems to be less bullish one the $2.63B market cap company. The stock decreased 2.13% or $1.05 during the last trading session, reaching $48.2. About 300,555 shares traded. GTT Communications, Inc. (NYSE:GTT) has risen 46.70% since June 22, 2017 and is uptrending. It has outperformed by 34.13% the S&P500.

Emerald Mutual Fund Advisers Trust, which manages about $1.06 billion and $2.55B US Long portfolio, upped its stake in H&E Equipment Services Inc (NASDAQ:HEES) by 96,051 shares to 550,917 shares, valued at $21.21M in 2018Q1, according to the filing. It also increased its holding in Topbuild Corp by 91,508 shares in the quarter, for a total of 220,463 shares, and has risen its stake in Mks Instruments Inc (NASDAQ:MKSI).

Analysts await GTT Communications, Inc. (NYSE:GTT) to report earnings on August, 2. They expect $-0.17 EPS, down 950.00 % or $0.19 from last year’s $0.02 per share. After $-0.12 actual EPS reported by GTT Communications, Inc. for the previous quarter, Wall Street now forecasts 41.67 % negative EPS growth.

More recent GTT Communications, Inc. (NYSE:GTT) news were published by: Businesswire.com which released: “GTT Completes Acquisition of Interoute” on May 31, 2018. Also Seekingalpha.com published the news titled: “Red Robin Had A Bad Conference Call – Cramer’s Lightning Round (5/24/18)” on May 25, 2018. Bizjournals.com‘s news article titled: “GTT closes its $2.3B acquisition of European fiber network provider” with publication date: June 01, 2018 was also an interesting one.

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

Among 8 analysts covering GTT Communications (NYSE:GTT), 7 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. GTT Communications has $6200 highest and $50.0 lowest target. $57.83’s average target is 19.98% above currents $48.2 stock price. GTT Communications had 9 analyst reports since January 18, 2018 according to SRatingsIntel. The firm earned “Sector Weight” rating on Thursday, January 18 by KeyBanc Capital Markets. KeyBanc Capital Markets upgraded the stock to “Overweight” rating in Friday, May 4 report. SunTrust maintained it with “Buy” rating and $60.0 target in Thursday, March 1 report. The rating was maintained by Oppenheimer on Thursday, April 12 with “Buy”. The stock of GTT Communications, Inc. (NYSE:GTT) has “Buy” rating given on Monday, January 22 by Craig Hallum. William Blair maintained GTT Communications, Inc. (NYSE:GTT) on Wednesday, March 28 with “Buy” rating. The rating was maintained by Cowen & Co with “Buy” on Friday, March 2.

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

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