Oppenheimer Asset Management Inc. boosted its position in Zayo Group Holdings Inc (NYSE:ZAYO) by 20.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,656 shares of the technology company’s stock after purchasing an additional 10,962 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Zayo Group were worth $1,866,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ZAYO. Dodge & Cox lifted its stake in Zayo Group by 2.3% in the third quarter. Dodge & Cox now owns 25,531,785 shares of the technology company’s stock valued at $886,464,000 after acquiring an additional 583,400 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Zayo Group by 0.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 9,760,366 shares of the technology company’s stock worth $222,908,000 after buying an additional 59,438 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Zayo Group by 24.4% in the third quarter. Neuberger Berman Group LLC now owns 5,160,787 shares of the technology company’s stock worth $179,182,000 after buying an additional 1,011,754 shares during the last quarter. Morgan Stanley lifted its stake in shares of Zayo Group by 149.3% in the third quarter. Morgan Stanley now owns 4,579,809 shares of the technology company’s stock worth $159,012,000 after buying an additional 2,742,559 shares during the last quarter. Finally, Parnassus Investments CA lifted its stake in shares of Zayo Group by 59.1% in the fourth quarter. Parnassus Investments CA now owns 4,069,308 shares of the technology company’s stock worth $92,943,000 after buying an additional 1,511,984 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.
In other news, insider Sandra Mays sold 2,745 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total transaction of $76,969.80. Following the completion of the transaction, the insider now directly owns 47,395 shares of the company’s stock, valued at approximately $1,328,955.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John F. Jr. Waters sold 6,296 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total transaction of $176,539.84. Following the completion of the transaction, the chief operating officer now directly owns 102,241 shares of the company’s stock, valued at $2,866,837.64. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.
Several equities analysts recently commented on the stock. ValuEngine lowered shares of Zayo Group from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research lowered shares of Zayo Group from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. SunTrust Banks lowered shares of Zayo Group from a “buy” rating to a “hold” rating in a report on Monday. Craig Hallum started coverage on shares of Zayo Group in a report on Wednesday, January 23rd. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Deutsche Bank upped their target price on shares of Zayo Group from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, February 11th. Thirteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.02.
Zayo Group stock traded down $0.05 during trading hours on Wednesday, reaching $32.69. 3,804,779 shares of the company’s stock traded hands, compared to its average volume of 6,154,723. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 4.84. Zayo Group Holdings Inc has a fifty-two week low of $20.27 and a fifty-two week high of $39.66. The company has a market cap of $7.71 billion, a PE ratio of 53.59, a PEG ratio of 11.75 and a beta of 0.93.
Zayo Group (NYSE:ZAYO) last released its earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $647.20 million for the quarter, compared to analyst estimates of $639.98 million. Zayo Group had a net margin of 5.06% and a return on equity of 9.56%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. Research analysts forecast that Zayo Group Holdings Inc will post 0.56 EPS for the current year.
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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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