Man Group plc lifted its stake in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 15.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,204,227 shares of the technology company’s stock after buying an additional 157,068 shares during the period. Man Group plc’s holdings in Zayo Group were worth $41,726,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in shares of Zayo Group by 63.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,336,820 shares of the technology company’s stock valued at $254,221,000 after buying an additional 2,858,031 shares in the last quarter. Farallon Capital Management LLC raised its stake in shares of Zayo Group by 37.9% during the 4th quarter. Farallon Capital Management LLC now owns 6,820,000 shares of the technology company’s stock worth $236,313,000 after purchasing an additional 1,875,753 shares during the period. TIG Advisors LLC raised its stake in shares of Zayo Group by 23.4% during the 4th quarter. TIG Advisors LLC now owns 5,961,661 shares of the technology company’s stock worth $206,572,000 after purchasing an additional 1,129,525 shares during the period. Credit Suisse AG boosted its holdings in shares of Zayo Group by 20.9% in the 4th quarter. Credit Suisse AG now owns 5,560,638 shares of the technology company’s stock worth $192,676,000 after buying an additional 961,588 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Zayo Group by 79.9% in the 4th quarter. Renaissance Technologies LLC now owns 5,433,248 shares of the technology company’s stock worth $188,262,000 after buying an additional 2,413,248 shares during the last quarter. 95.01% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Linda Rottenberg sold 30,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $34.90, for a total transaction of $1,047,000.00. Following the transaction, the director now directly owns 7,092 shares of the company’s stock, valued at $247,510.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Steinfort sold 10,350 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $34.90, for a total value of $361,215.00. Following the transaction, the chief financial officer now directly owns 64,248 shares in the company, valued at $2,242,255.20. The disclosure for this sale can be found here. In the last three months, insiders sold 72,792 shares of company stock valued at $2,532,463. Corporate insiders own 2.40% of the company’s stock.
A number of analysts recently issued reports on the stock. ValuEngine upgraded shares of Zayo Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Zayo Group in a research report on Sunday, February 9th. Eleven equities research analysts have rated the stock with a hold rating, Zayo Group currently has an average rating of “Hold” and an average target price of $34.62.
Shares of NYSE:ZAYO opened at $34.99 on Thursday. The company has a 50 day moving average of $34.96 and a 200 day moving average of $34.46. The stock has a market cap of $8.31 billion, a P/E ratio of 46.65, a P/E/G ratio of 22.67 and a beta of 0.60. Zayo Group Holdings Inc has a 12 month low of $27.04 and a 12 month high of $35.01. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.23.
Zayo Group (NYSE:ZAYO) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business had revenue of $653.70 million during the quarter, compared to analysts’ expectations of $640.13 million. Zayo Group had a return on equity of 13.03% and a net margin of 6.83%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. On average, equities analysts forecast that Zayo Group Holdings Inc will post 0.66 earnings per share for the current fiscal year.
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.
Further Reading: Resistance Level
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