Large investor in GTT Communications buys $17 million in shares
Spruce House Partnership, who already control 10% of shares at GTT Communications (GTT), bought 387,933 additional shares of the company’s common stock on Oct 2. At $44.11 per share, Spruce House Partnership paid a total of $17,110,048 for the new shares.
Already a member?
Login to see your Insider Activity Trade Idea.
Not yet a member?
You can receive four timely bull-put credit spreads each market day by joining our InvestorsKeyhole Daily Trade Alerts Service. Our analysts scour the news looking for unusual options activity, how insiders are trading, and breaking news, and publish trades accordingly.
Become A Member
About GTT Communications Inc.
GTT operates a global communications network, providing telecommunications services to large, multinational enterprises, carriers, and governments across five continents. Offerings include wide-area networks, Internet services (including Internet transit), voice, and other transport and infrastructure services. GTT's network consists primarily of leased assets over long-haul routes and connects in over 600 data centers worldwide. The firm uses other carriers for last-mile connections, and its model results in low capital spending needs. GTT relies heavily on acquisitions to expand its footprint. Customers primarily located in the U.S. account for over half of the firm's revenue, with most of the remaining revenue from customers in Europe.