Forsta AP Fonden purchased a new stake in Zayo Group Holdings (NYSE:ZAYO) in the first quarter, HoldingsChannel.com reports. The firm purchased 65,100 shares of the technology company’s stock, valued at approximately $2,224,000.
Several other hedge funds have also recently made changes to their positions in ZAYO. Nisa Investment Advisors LLC purchased a new position in shares of Zayo Group in the fourth quarter valued at $552,000. Bank of Montreal Can boosted its stake in shares of Zayo Group by 6.7% during the fourth quarter. Bank of Montreal Can now owns 299,580 shares of the technology company’s stock valued at $11,024,000 after acquiring an additional 18,940 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Zayo Group by 9.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 692,265 shares of the technology company’s stock valued at $25,476,000 after acquiring an additional 59,182 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Zayo Group during the fourth quarter valued at $504,000. Finally, Reinhart Partners Inc. acquired a new stake in shares of Zayo Group during the fourth quarter valued at $13,845,000. Institutional investors and hedge funds own 87.68% of the company’s stock.
A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Zayo Group in a research note on Friday, February 9th. SunTrust Banks increased their price objective on Zayo Group to $45.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Deutsche Bank raised Zayo Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a research note on Wednesday, April 18th. Bank of America assumed coverage on Zayo Group in a research note on Friday. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Zayo Group in a research note on Saturday, April 21st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.40.
Shares of NYSE:ZAYO opened at $34.14 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.77. Zayo Group Holdings has a 12-month low of $29.73 and a 12-month high of $37.95. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 85.35, a price-to-earnings-growth ratio of 12.99 and a beta of 0.52.
Zayo Group (NYSE:ZAYO) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $649.40 million for the quarter, compared to analyst estimates of $652.84 million. Zayo Group had a return on equity of 9.31% and a net margin of 3.15%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. sell-side analysts expect that Zayo Group Holdings will post 0.53 earnings per share for the current year.
In related news, major shareholder Fund X/C Lp Gtcr sold 4,675,000 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $37.05, for a total transaction of $173,208,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Connor sold 1,037 shares of the firm’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $34.00, for a total value of $35,258.00. Following the sale, the director now owns 148,383 shares in the company, valued at $5,045,022. The disclosure for this sale can be found here. Insiders sold a total of 5,497,558 shares of company stock worth $203,432,369 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.
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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