State Street Corp increased its position in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 4.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,844,800 shares of the technology company’s stock after buying an additional 117,267 shares during the period. State Street Corp owned approximately 1.16% of Zayo Group Holdings worth $93,593,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Dodge & Cox acquired a new position in Zayo Group Holdings during the fourth quarter worth approximately $478,647,000. BlackRock Inc. raised its position in Zayo Group Holdings by 5,686.4% in the first quarter. BlackRock Inc. now owns 9,393,691 shares of the technology company’s stock worth $309,054,000 after buying an additional 9,231,349 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Zayo Group Holdings by 7,453.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,735,209 shares of the technology company’s stock worth $89,988,000 after buying an additional 2,699,000 shares in the last quarter. Manning & Napier Advisors LLC raised its position in Zayo Group Holdings by 87.5% in the first quarter. Manning & Napier Advisors LLC now owns 5,504,715 shares of the technology company’s stock worth $181,104,000 after buying an additional 2,569,425 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Zayo Group Holdings by 12.7% in the first quarter. Vanguard Group Inc. now owns 12,658,989 shares of the technology company’s stock worth $416,480,000 after buying an additional 1,428,585 shares in the last quarter. Hedge funds and other institutional investors own 74.40% of the company’s stock.
Shares of Zayo Group Holdings Inc (NYSE:ZAYO) traded up 1.71% during midday trading on Tuesday, hitting $33.30. The company’s stock had a trading volume of 1,539,028 shares. The company has a market cap of $8.18 billion, a P/E ratio of 256.15 and a beta of 0.56. Zayo Group Holdings Inc has a 1-year low of $27.74 and a 1-year high of $35.65. The company has a 50-day moving average price of $31.51 and a 200 day moving average price of $32.21.
Zayo Group Holdings (NYSE:ZAYO) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. The company had revenue of $550.20 million during the quarter, compared to analyst estimates of $545.63 million. Zayo Group Holdings had a net margin of 4.91% and a return on equity of 8.23%. Zayo Group Holdings’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. On average, equities research analysts predict that Zayo Group Holdings Inc will post $0.39 EPS for the current year.
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Several equities analysts have recently issued reports on the company. Cowen and Company reaffirmed an “outperform” rating on shares of Zayo Group Holdings in a research note on Wednesday, April 19th. Citigroup Inc. upped their price target on Zayo Group Holdings from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Zacks Investment Research raised Zayo Group Holdings from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, May 3rd. J P Morgan Chase & Co lowered Zayo Group Holdings from an “overweight” rating to a “neutral” rating and upped their price target for the company from $35.00 to $36.00 in a research note on Wednesday, May 10th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Zayo Group Holdings in a research note on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Zayo Group Holdings has an average rating of “Hold” and an average target price of $37.85.
In other Zayo Group Holdings news, CEO Daniel Caruso sold 152,900 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $32.70, for a total value of $4,999,830.00. Following the completion of the sale, the chief executive officer now directly owns 4,608,165 shares in the company, valued at $150,686,995.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Desgarennes sold 38,885 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $31.52, for a total transaction of $1,225,655.20. Following the completion of the sale, the chief financial officer now owns 1,055,045 shares of the company’s stock, valued at $33,255,018.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 637,306 shares of company stock valued at $20,270,946. 5.80% of the stock is currently owned by company insiders.
Zayo Group Holdings Company Profile
Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.
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