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Carlo Cannell Trims His Global Telecom & Technology Exposure

Carlo Cannell, Global Telecom & Technology: A large shareholder of Global Telecom & Technology, Inc. (NYSEMKT:GTT) recently disclosed selling around 4,800 shares of the company in a form 4 filing with the Securities and Exchange Commission. Carlo Cannell, manager of Cannell Capital, reported disposing shares in three transactions at an average price of $5.40 apiece. Following the deals, Cannell now holds around 3.43 million shares.

Carlo Cannell

It is not the first sale of GTT shares made by Cannell. At the beginning of October, the manager of Cannell Capital also unloaded around 10,000 shares at a price of $5.39 apiece and almost 5,000 shares sold for $5.36 apiece.

Global Telecom & Technology reported a revenue of $39.7 million in the second quarter, which shows an increase by 46% on the year. Earlier this year, GTT, engaged in global nertwork, Internet access and data services, acquired Tinet, a provider of voice, IP Transit, Ethernet and hosted services with a market in over 80 countries around the globe.

Disclosure: none

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