Myriad Asset Management Ltd. bought a new stake in Zayo Group Holdings Inc (NYSE:ZAYO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,800 shares of the technology company’s stock, valued at approximately $1,079,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in Zayo Group by 20.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 65,656 shares of the technology company’s stock valued at $1,866,000 after purchasing an additional 10,962 shares in the last quarter. Keeley Teton Advisors LLC acquired a new stake in shares of Zayo Group in the first quarter worth about $913,000. Quantamental Technologies LLC acquired a new stake in shares of Zayo Group in the first quarter worth about $183,000. Xact Kapitalforvaltning AB lifted its position in shares of Zayo Group by 16.0% in the second quarter. Xact Kapitalforvaltning AB now owns 39,953 shares of the technology company’s stock worth $1,315,000 after buying an additional 5,515 shares during the last quarter. Finally, Havens Advisors LLC acquired a new stake in shares of Zayo Group in the second quarter worth about $2,962,000. Hedge funds and other institutional investors own 90.10% of the company’s stock.
Shares of NYSE ZAYO traded down $0.03 during trading hours on Friday, hitting $33.87. 1,104,305 shares of the company’s stock were exchanged, compared to its average volume of 1,864,753. Zayo Group Holdings Inc has a 1-year low of $20.27 and a 1-year high of $36.07. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 54.63, a PEG ratio of 10.40 and a beta of 0.77. The company’s 50-day moving average price is $33.62 and its 200-day moving average price is $30.97.
Zayo Group (NYSE:ZAYO) last posted its quarterly earnings data on Wednesday, August 21st. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.11. Zayo Group had a return on equity of 11.30% and a net margin of 5.82%. The business had revenue of $650.60 million during the quarter, compared to analysts’ expectations of $642.86 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts expect that Zayo Group Holdings Inc will post 0.65 earnings per share for the current year.
A number of brokerages have weighed in on ZAYO. ValuEngine raised Zayo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Raymond James cut Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 price target for the company. in a research report on Wednesday, May 22nd. Cowen cut Zayo Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $37.00 to $35.00 in a research report on Wednesday, May 15th. Citigroup cut Zayo Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $38.00 to $35.00 in a research report on Thursday, May 16th. Finally, SunTrust Banks cut Zayo Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Zayo Group has an average rating of “Hold” and an average price target of $35.02.
In other Zayo Group news, CFO Matt Steinfort sold 7,888 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $33.05, for a total value of $260,698.40. Following the completion of the transaction, the chief financial officer now owns 54,435 shares of the company’s stock, valued at approximately $1,799,076.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sandra Mays sold 3,395 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $33.05, for a total value of $112,204.75. Following the completion of the transaction, the insider now directly owns 55,764 shares of the company’s stock, valued at approximately $1,843,000.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,437,607 shares of company stock valued at $47,051,887 in the last three months. 4.50% of the stock is owned by insiders.
Zayo Group Profile
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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