IFM Investors Pty Ltd boosted its holdings in Zayo Group Holdings Inc (NYSE:ZAYO) by 26.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,484 shares of the technology company’s stock after purchasing an additional 1,955 shares during the quarter. IFM Investors Pty Ltd’s holdings in Zayo Group were worth $329,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of ZAYO. Canada Pension Plan Investment Board increased its holdings in Zayo Group by 60.6% in the second quarter. Canada Pension Plan Investment Board now owns 7,871,578 shares of the technology company’s stock valued at $287,155,000 after buying an additional 2,971,505 shares during the last quarter. Hunt Lane Capital LP purchased a new position in Zayo Group in the second quarter valued at $63,110,000. BlackRock Inc. increased its holdings in Zayo Group by 11.8% in the second quarter. BlackRock Inc. now owns 13,288,927 shares of the technology company’s stock valued at $484,781,000 after buying an additional 1,401,301 shares during the last quarter. Morgan Stanley increased its holdings in Zayo Group by 141.2% in the second quarter. Morgan Stanley now owns 1,837,250 shares of the technology company’s stock valued at $67,025,000 after buying an additional 1,075,453 shares during the last quarter. Finally, Senator Investment Group LP increased its holdings in Zayo Group by 11.3% in the second quarter. Senator Investment Group LP now owns 10,000,000 shares of the technology company’s stock valued at $364,800,000 after buying an additional 1,015,000 shares during the last quarter. 94.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ZAYO stock opened at $29.89 on Friday. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 11.11 and a beta of 0.43. Zayo Group Holdings Inc has a 1 year low of $29.33 and a 1 year high of $39.66. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.02 and a current ratio of 1.02.
Zayo Group (NYSE:ZAYO) last issued its quarterly earnings data on Wednesday, August 22nd. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.09. The company had revenue of $657.60 million for the quarter, compared to analyst estimates of $655.78 million. Zayo Group had a return on equity of 9.97% and a net margin of 3.91%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. Analysts predict that Zayo Group Holdings Inc will post 0.53 earnings per share for the current year.
ZAYO has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Zayo Group in a report on Tuesday, September 4th. They issued a “buy” rating and a $49.00 target price on the stock. Moffett Nathanson raised Zayo Group from a “neutral” rating to a “buy” rating in a report on Monday, October 15th. ValuEngine lowered Zayo Group from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. TheStreet lowered Zayo Group from a “b-” rating to a “c+” rating in a report on Tuesday, October 23rd. Finally, Zacks Investment Research lowered Zayo Group from a “hold” rating to a “sell” rating in a report on Sunday, July 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $43.22.
In other news, CEO Daniel Caruso sold 265,866 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $37.61, for a total transaction of $9,999,220.26. Following the completion of the sale, the chief executive officer now owns 471,851 shares in the company, valued at $17,746,316.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO John F. Jr. Waters sold 1,251 shares of the stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $34.08, for a total transaction of $42,634.08. Following the sale, the chief technology officer now owns 80,616 shares of the company’s stock, valued at approximately $2,747,393.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,250 shares of company stock worth $20,215,335. Corporate insiders own 4.50% of the company’s stock.
Zayo Group Company 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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