BlackRock Inc. increased its position in Zayo Group Holdings Inc (NYSE:ZAYO) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,857,145 shares of the technology company’s stock after purchasing an additional 1,568,218 shares during the quarter. BlackRock Inc. owned approximately 0.06% of Zayo Group worth $515,841,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in shares of Zayo Group by 18.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,700 shares of the technology company’s stock valued at $615,000 after purchasing an additional 2,700 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of Zayo Group by 9.2% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 32,980 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 2,768 shares during the period. Carillon Tower Advisers Inc. lifted its stake in shares of Zayo Group by 19.6% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 838,172 shares of the technology company’s stock valued at $30,576,000 after purchasing an additional 137,166 shares during the period. Morgan Stanley lifted its stake in shares of Zayo Group by 141.2% in the 2nd quarter. Morgan Stanley now owns 1,837,250 shares of the technology company’s stock valued at $67,025,000 after purchasing an additional 1,075,453 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Zayo Group in the 3rd quarter valued at approximately $1,007,000. Institutional investors own 98.73% of the company’s stock.
A number of research analysts have recently commented on ZAYO shares. William Blair restated an “outperform” rating on shares of Zayo Group in a research note on Thursday, August 23rd. Moffett Nathanson upgraded Zayo Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 15th. Raymond James reduced their price objective on Zayo Group from $43.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, November 8th. BTIG Research lowered Zayo Group from a “buy” rating to a “neutral” rating in a research report on Thursday, November 8th. Finally, Zacks Investment Research lowered Zayo Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.54.
In other Zayo Group news, Director Richard W. Connor sold 1,038 shares of Zayo Group stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $33.95, for a total value of $35,240.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sandra Mays sold 1,586 shares of Zayo Group stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $34.14, for a total value of $54,146.04. Following the completion of the sale, the insider now directly owns 35,800 shares of the company’s stock, valued at approximately $1,222,212. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 343,384 shares of company stock valued at $10,216,114. 4.50% of the stock is owned by corporate insiders.
ZAYO stock opened at $24.97 on Friday. Zayo Group Holdings Inc has a twelve month low of $21.92 and a twelve month high of $39.66. The company has a debt-to-equity ratio of 3.75, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $5.94 billion, a P/E ratio of 40.85, a P/E/G ratio of 9.42 and a beta of 0.60.
Zayo Group (NYSE:ZAYO) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). Zayo Group had a net margin of 3.87% and a return on equity of 9.51%. The company had revenue of $641.10 million for the quarter, compared to the consensus estimate of $647.21 million. During the same period last year, the business earned $0.09 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts forecast that Zayo Group Holdings Inc will post 0.53 earnings per share for the current fiscal year.
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About Zayo Group
Zayo Group Holdings, Inc, through its subsidiaries, provides bandwidth infrastructure solutions for the communications industry in the United States, Canada, and Europe. The company operates in six segments: Fiber Solutions, Transport, Enterprise Networks, Zayo Colocation (zColo), Allstream, and Other.
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