First Mercantile Trust Co. increased its holdings in Zayo Group Holdings Inc (NYSE:ZAYO) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,663 shares of the technology company’s stock after acquiring an additional 1,794 shares during the period. First Mercantile Trust Co.’s holdings in Zayo Group were worth $768,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ZAYO. Pentwater Capital Management LP raised its holdings in shares of Zayo Group by 944.9% in the 2nd quarter. Pentwater Capital Management LP now owns 8,150,000 shares of the technology company’s stock worth $268,217,000 after acquiring an additional 7,370,000 shares during the last quarter. TIG Advisors LLC acquired a new stake in shares of Zayo Group in the 2nd quarter worth about $143,237,000. Alpine Associates Management Inc. acquired a new stake in shares of Zayo Group in the 2nd quarter worth about $141,703,000. Omni Partners LLP acquired a new stake in shares of Zayo Group in the 2nd quarter worth about $101,066,000. Finally, Farallon Capital Management LLC purchased a new stake in Zayo Group in the 2nd quarter valued at about $92,806,000. Institutional investors own 87.33% of the company’s stock.
Separately, ValuEngine lowered shares of Zayo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Thirteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $33.85.
In related news, CEO Daniel Caruso sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $33.78, for a total value of $33,780,000.00. Following the completion of the transaction, the chief executive officer now directly owns 372,406 shares of the company’s stock, valued at approximately $12,579,874.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard W. Connor sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $34.31, for a total transaction of $686,200.00. Following the completion of the transaction, the director now directly owns 101,696 shares of the company’s stock, valued at $3,489,189.76. The disclosure for this sale can be found here. Insiders have sold a total of 1,089,803 shares of company stock valued at $36,831,348 over the last three months. Insiders own 2.40% of the company’s stock.
NYSE:ZAYO traded down $0.07 on Thursday, hitting $34.22. The stock had a trading volume of 78,252 shares, compared to its average volume of 1,928,183. The company has a debt-to-equity ratio of 4.48, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $8.10 billion, a P/E ratio of 55.16, a price-to-earnings-growth ratio of 12.54 and a beta of 0.76. Zayo Group Holdings Inc has a 1 year low of $20.27 and a 1 year high of $34.33. The firm’s fifty day simple moving average is $34.06 and its two-hundred day simple moving average is $33.31.
Zayo Group (NYSE:ZAYO) last released its earnings results on Wednesday, November 6th. The technology company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.10). Zayo Group had a net margin of 5.82% and a return on equity of 11.27%. The company had revenue of $638.60 million for the quarter, compared to the consensus estimate of $644.17 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Equities research analysts predict that Zayo Group Holdings Inc will post 0.74 EPS for the current year.
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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