State of New Jersey Common Pension Fund D purchased a new position in Zayo Group Holdings Inc (NYSE:ZAYO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 140,000 shares of the technology company’s stock, valued at approximately $4,861,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerebellum GP LLC lifted its stake in Zayo Group by 56.5% in the second quarter. Cerebellum GP LLC now owns 5,048 shares of the technology company’s stock worth $184,000 after purchasing an additional 1,822 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in Zayo Group in the second quarter worth about $275,000. HL Financial Services LLC bought a new stake in Zayo Group in the second quarter worth about $314,000. Highland Capital Management LP bought a new stake in Zayo Group in the second quarter worth about $348,000. Finally, D.A. Davidson & CO. lifted its stake in Zayo Group by 30.5% in the second quarter. D.A. Davidson & CO. now owns 9,871 shares of the technology company’s stock worth $360,000 after purchasing an additional 2,307 shares during the last quarter. Institutional investors own 94.89% of the company’s stock.
ZAYO has been the subject of several analyst reports. ValuEngine raised shares of Zayo Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Jefferies Financial Group initiated coverage on shares of Zayo Group in a research note on Tuesday, September 4th. They issued a “buy” rating and a $49.00 price objective for the company. Zacks Investment Research downgraded shares of Zayo Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 8th. William Blair reissued an “outperform” rating on shares of Zayo Group in a research note on Thursday, August 23rd. Finally, Moffett Nathanson raised shares of Zayo Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $43.22.
Zayo Group stock opened at $31.78 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.90. Zayo Group Holdings Inc has a fifty-two week low of $30.34 and a fifty-two week high of $39.66. The company has a market cap of $7.88 billion, a PE ratio of 52.10, a P/E/G ratio of 11.84 and a beta of 0.43.
Zayo Group (NYSE:ZAYO) last posted its quarterly earnings results on Wednesday, August 22nd. The technology company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.09. Zayo Group had a net margin of 3.91% and a return on equity of 9.97%. The firm had revenue of $657.60 million during the quarter, compared to the consensus estimate of $655.78 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts predict that Zayo Group Holdings Inc will post 0.54 EPS for the current year.
In related news, Director Richard W. Connor sold 1,038 shares of Zayo Group stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $33.95, for a total transaction of $35,240.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sandra Mays sold 1,586 shares of Zayo Group stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $34.14, for a total transaction of $54,146.04. Following the transaction, the insider now directly owns 35,800 shares in the company, valued at $1,222,212. The disclosure for this sale can be found here. Insiders have sold 272,171 shares of company stock valued at $10,214,201 in the last ninety days. 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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