Spitfire Capital buys $28,415,802 stake in GTT Communications Inc (GTT)

GTT Communications Inc (GTT) : Spitfire Capital scooped up 12,500 additional shares in GTT Communications Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,364,832 shares of GTT Communications Inc which is valued at $28,415,802.GTT Communications Inc makes up approximately 11.91% of Spitfire Capital’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in GTT in the latest quarter, The investment management firm added 453 additional shares and now holds a total of 3,728 shares of GTT Communications Inc which is valued at $78,176. Capital Fund Management S.a. sold out all of its stake in GTT during the most recent quarter. The investment firm sold 14,500 shares of GTT which is valued $301,310.Parkwood reduced its stake in GTT by selling 25,058 shares or 67.05% in the most recent quarter. The Hedge Fund company now holds 12,315 shares of GTT which is valued at $258,492. GTT Communications Inc makes up approx 0.04% of Parkwood’s portfolio.Pembroke Management Ltd reduced its stake in GTT by selling 40,200 shares or 2.8% in the most recent quarter. The Hedge Fund company now holds 1,393,376 shares of GTT which is valued at $29,246,962. GTT Communications Inc makes up approx 2.73% of Pembroke Management Ltd’s portfolio.

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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