Spruce House Investment Management Has Increased Stake in Gtt Communications (GTT); Endeavour Capital Advisors Has Cut Holding in Banc Of California (BANC) as Valuation Declined

April 23, 2018 - By Louis Casey

GTT Communications, Inc. (NYSE:GTT) Logo

Spruce House Investment Management Llc increased its stake in Gtt Communications Inc (GTT) by 111.98% based on its latest 2017Q4 regulatory filing with the SEC. Spruce House Investment Management Llc bought 2.11 million shares as the company’s stock rose 23.24% while stock markets declined. The institutional investor held 4.00M shares of the public utilities company at the end of 2017Q4, valued at $187.80 million, up from 1.89M at the end of the previous reported quarter. Spruce House Investment Management Llc who had been investing in Gtt Communications Inc for a number of months, seems to be bullish on the $2.31 billion market cap company. The stock decreased 0.96% or $0.5 during the last trading session, reaching $51.55. About 319,524 shares traded. GTT Communications, Inc. (NYSE:GTT) has risen 131.28% since April 23, 2017 and is uptrending. It has outperformed by 119.73% the S&P500.

Endeavour Capital Advisors Inc decreased its stake in Banc Of California Inc (BANC) by 81.42% based on its latest 2017Q4 regulatory filing with the SEC. Endeavour Capital Advisors Inc sold 261,476 shares as the company’s stock declined 11.29% with the market. The hedge fund held 59,662 shares of the finance company at the end of 2017Q4, valued at $1.23M, down from 321,138 at the end of the previous reported quarter. Endeavour Capital Advisors Inc who had been investing in Banc Of California Inc for a number of months, seems to be less bullish one the $948.52 million market cap company. The stock increased 1.35% or $0.25 during the last trading session, reaching $18.75. About 330,096 shares traded. Banc of California, Inc. (NYSE:BANC) has declined 9.16% since April 23, 2017 and is downtrending. It has underperformed by 20.71% the S&P500.

Investors sentiment decreased to 0.78 in 2017 Q4. Its down 0.20, from 0.98 in 2017Q3. It is negative, as 22 investors sold BANC shares while 66 reduced holdings. 26 funds opened positions while 43 raised stakes. 56.03 million shares or 5.95% less from 59.57 million shares in 2017Q3 were reported. Deutsche Bancorporation Ag reported 0% of its portfolio in Banc of California, Inc. (NYSE:BANC). Regions has 0% invested in Banc of California, Inc. (NYSE:BANC) for 91 shares. Deprince Race And Zollo reported 0.22% stake. Sei holds 0% or 3,030 shares in its portfolio. Jane Street Group Lc reported 87,576 shares. Jpmorgan Chase has 150,333 shares. Fsi Group Limited Liability Company accumulated 0.06% or 3,350 shares. Teacher Retirement System Of Texas owns 14,446 shares. Illinois-based Continental Advsr has invested 0.82% in Banc of California, Inc. (NYSE:BANC). Highlander Cap Management Limited Liability Corp owns 0.02% invested in Banc of California, Inc. (NYSE:BANC) for 1,000 shares. Invesco Limited invested in 0% or 105,263 shares. 2,366 are held by Tower Research Llc (Trc). The Ontario – Canada-based Royal Bankshares Of Canada has invested 0% in Banc of California, Inc. (NYSE:BANC). Moreover, Pnc Fincl Svcs Grp Inc Inc has 0% invested in Banc of California, Inc. (NYSE:BANC) for 1,009 shares. Boston Advsr Limited Com owns 228,383 shares.

Among 12 analysts covering Banc of California (NYSE:BANC), 7 have Buy rating, 1 Sell and 4 Hold. Therefore 58% are positive. Banc of California had 30 analyst reports since November 9, 2015 according to SRatingsIntel. The stock has “Outperform” rating by FBR Capital on Thursday, January 26. UBS initiated Banc of California, Inc. (NYSE:BANC) rating on Monday, May 23. UBS has “Buy” rating and $24 target. The firm has “Hold” rating given on Monday, June 5 by Keefe Bruyette & Woods. The stock of Banc of California, Inc. (NYSE:BANC) has “Buy” rating given on Thursday, October 20 by DA Davidson. The firm has “Outperform” rating by FBR Capital given on Thursday, May 4. As per Thursday, February 8, the company rating was maintained by FBR Capital. The stock of Banc of California, Inc. (NYSE:BANC) has “Mkt Perform” rating given on Thursday, October 20 by FBR Capital. The stock has “Hold” rating by Keefe Bruyette & Woods on Thursday, December 21. The stock of Banc of California, Inc. (NYSE:BANC) earned “Hold” rating by Keefe Bruyette & Woods on Monday, August 28. The firm earned “Hold” rating on Thursday, July 6 by Keefe Bruyette & Woods.

Since February 1, 2018, it had 1 insider buy, and 0 sales for $386,000 activity.

Analysts await Banc of California, Inc. (NYSE:BANC) to report earnings on May, 2. They expect $-0.06 earnings per share, down 122.22% or $0.33 from last year’s $0.27 per share. After $0.30 actual earnings per share reported by Banc of California, Inc. for the previous quarter, Wall Street now forecasts -120.00% negative EPS growth.

Among 11 analysts covering GTT Communications (NYSE:GTT), 9 have Buy rating, 0 Sell and 2 Hold. Therefore 82% are positive. GTT Communications had 25 analyst reports since August 7, 2015 according to SRatingsIntel. The stock has “Buy” rating by Oppenheimer on Tuesday, June 27. SunTrust maintained the shares of GTT in report on Wednesday, December 6 with “Buy” rating. The company was maintained on Friday, November 3 by SunTrust. The rating was maintained by Oppenheimer on Thursday, August 10 with “Buy”. The stock has “Buy” rating by Suntrust Robinson on Thursday, February 18. Oppenheimer maintained the shares of GTT in report on Thursday, April 12 with “Buy” rating. KeyBanc Capital Markets maintained GTT Communications, Inc. (NYSE:GTT) rating on Tuesday, October 3. KeyBanc Capital Markets has “Buy” rating and $38.0 target. The stock has “Buy” rating by Cowen & Co on Wednesday, October 18. On Friday, March 2 the stock rating was maintained by Cowen & Co with “Buy”. Jefferies maintained it with “Buy” rating and $41.0 target in Wednesday, October 25 report.

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

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