Hussman Strategic Advisors Inc. acquired a new stake in Zayo Group Holdings, Inc. (NYSE:ZAYO) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 50,000 shares of the technology company’s stock, valued at approximately $1,721,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZAYO. Thompson Davis & CO. Inc. lifted its stake in Zayo Group Holdings by 2,600.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 3,375 shares of the technology company’s stock valued at $116,000 after acquiring an additional 3,250 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Zayo Group Holdings during the 2nd quarter worth approximately $142,000. Neuberger Berman Group LLC bought a new stake in shares of Zayo Group Holdings during the 1st quarter worth approximately $203,000. Rehmann Capital Advisory Group bought a new stake in shares of Zayo Group Holdings during the 3rd quarter worth approximately $212,000. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in shares of Zayo Group Holdings by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 7,434 shares of the technology company’s stock worth $230,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.
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Zayo Group Holdings, Inc. (ZAYO) remained flat at $$34.02 during midday trading on Friday. 1,823,100 shares of the stock traded hands, compared to its average volume of 1,973,676. Zayo Group Holdings, Inc. has a 52 week low of $29.30 and a 52 week high of $36.79. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.83 and a current ratio of 0.91. The company has a market cap of $8,415.39, a P/E ratio of 75.60, a price-to-earnings-growth ratio of 13.85 and a beta of 0.56.
Zayo Group Holdings (NYSE:ZAYO) last posted its earnings results on Monday, August 21st. The technology company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $642.67 million. Zayo Group Holdings had a return on equity of 8.01% and a net margin of 3.99%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS. research analysts expect that Zayo Group Holdings, Inc. will post 0.49 EPS for the current year.
In other Zayo Group Holdings news, Director Richard W. Connor sold 1,200 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $34.47, for a total transaction of $41,364.00. Following the sale, the director now directly owns 145,944 shares in the company, valued at approximately $5,030,689.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matt Steinfort sold 812 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $34.95, for a total value of $28,379.40. The disclosure for this sale can be found here. Insiders sold a total of 5,271,311 shares of company stock worth $180,967,923 in the last 90 days. 5.20% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on ZAYO. Deutsche Bank AG started coverage on Zayo Group Holdings in a report on Monday, August 28th. They set a “hold” rating on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Zayo Group Holdings in a report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $42.00 target price on shares of Zayo Group Holdings in a report on Wednesday, September 13th. Zacks Investment Research downgraded Zayo Group Holdings from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Barclays PLC increased their target price on Zayo Group Holdings from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.46.
Zayo Group Holdings 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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