Bank of New York Mellon Corp raised its holdings in Zayo Group Holdings (NYSE:ZAYO) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,031 shares of the technology company’s stock after buying an additional 5,258 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.32% of Zayo Group worth $29,552,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Cerebellum GP LLC acquired a new stake in Zayo Group in the fourth quarter worth $126,000. SG Americas Securities LLC acquired a new stake in Zayo Group in the fourth quarter worth $141,000. Cadence Capital Management LLC acquired a new stake in Zayo Group in the third quarter worth $232,000. Campbell & CO Investment Adviser LLC acquired a new stake in Zayo Group in the third quarter worth $235,000. Finally, Highbridge Capital Management LLC acquired a new stake in Zayo Group in the third quarter worth $243,000. Institutional investors and hedge funds own 87.25% of the company’s stock.
ZAYO has been the subject of several recent analyst reports. Morgan Stanley raised Zayo Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $33.00 to $40.00 in a research note on Tuesday, December 12th. Citigroup reaffirmed a “buy” rating on shares of Zayo Group in a report on Thursday, December 14th. Barclays reissued a “buy” rating and issued a $41.00 price objective on shares of Zayo Group in a research note on Friday, January 19th. SunTrust Banks increased their price objective on Zayo Group to $45.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Zayo Group in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.70.
In other Zayo Group news, CEO Daniel Caruso sold 87,741 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $36.05, for a total value of $3,163,063.05. Following the completion of the transaction, the chief executive officer now directly owns 4,383,535 shares of the company’s stock, valued at $158,026,436.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew Crouch sold 14,356 shares of the business’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $35.56, for a total value of $510,499.36. Following the completion of the sale, the chief operating officer now owns 105,767 shares in the company, valued at $3,761,074.52. The disclosure for this sale can be found here. Insiders sold a total of 5,469,505 shares of company stock valued at $202,110,633 over the last three months. Insiders own 5.20% of the company’s stock.
ZAYO traded down $0.17 during trading on Friday, hitting $36.28. The company’s stock had a trading volume of 2,298,471 shares, compared to its average volume of 2,435,246. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.99 and a current ratio of 0.99. Zayo Group Holdings has a 12 month low of $29.73 and a 12 month high of $37.95. The company has a market cap of $8,999.76, a price-to-earnings ratio of 90.70, a PEG ratio of 20.16 and a beta of 0.53.
Zayo Group (NYSE:ZAYO) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.10. The firm had revenue of $653.50 million during the quarter, compared to the consensus estimate of $650.79 million. Zayo Group had a return on equity of 10.19% and a net margin of 3.42%. research analysts predict that Zayo Group Holdings will post 0.36 EPS for the current fiscal year.
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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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