Victory Capital Management Inc. purchased a new stake in shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 46,381 shares of the technology company’s stock, valued at approximately $1,596,000.
Other hedge funds also recently modified their holdings of the company. Pictet Asset Management Ltd. raised its position in Zayo Group by 4.5% in the third quarter. Pictet Asset Management Ltd. now owns 69,400 shares of the technology company’s stock worth $2,389,000 after acquiring an additional 3,000 shares during the period. Rehmann Capital Advisory Group bought a new stake in shares of Zayo Group during the 3rd quarter valued at $212,000. Aperio Group LLC raised its position in shares of Zayo Group by 158.5% during the 3rd quarter. Aperio Group LLC now owns 28,178 shares of the technology company’s stock valued at $970,000 after purchasing an additional 17,278 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Zayo Group by 68.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 7,720 shares of the technology company’s stock valued at $266,000 after purchasing an additional 3,125 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in Zayo Group in the 3rd quarter valued at $313,000. Institutional investors own 84.11% of the company’s stock.
Shares of Zayo Group Holdings, Inc. (NYSE ZAYO) traded up $0.30 during midday trading on Thursday, hitting $34.41. 2,081,831 shares of the stock were exchanged, compared to its average volume of 2,354,558. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.91 and a quick ratio of 0.91. Zayo Group Holdings, Inc. has a 1-year low of $29.30 and a 1-year high of $36.79. The firm has a market capitalization of $8,520.00, a PE ratio of 76.49, a price-to-earnings-growth ratio of 14.01 and a beta of 0.53.
In other news, Director Richard W. Connor sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $34.47, for a total value of $41,364.00. Following the completion of the transaction, the director now owns 145,944 shares of the company’s stock, valued at $5,030,689.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Matt Steinfort sold 812 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $34.95, for a total transaction of $28,379.40. The disclosure for this sale can be found here. Insiders sold 9,637,348 shares of company stock valued at $338,372,529 in the last three months. 5.20% of the stock is currently owned by insiders.
A number of analysts have issued reports on the stock. BidaskClub upgraded shares of Zayo Group from a “sell” rating to a “hold” rating in a report on Friday, October 20th. TheStreet raised shares of Zayo Group from a “c” rating to a “b-” rating in a research note on Tuesday, October 17th. Barclays lifted their price target on shares of Zayo Group from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Oppenheimer reaffirmed a “buy” rating and set a $42.00 price target on shares of Zayo Group in a research note on Tuesday, November 7th. Finally, KeyCorp reiterated a “hold” rating on shares of Zayo Group in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $38.92.
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Zayo Group Company Profile
Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.
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