Ellington Management Group LLC purchased a new stake in Zayo Group Holdings Inc (NYSE:ZAYO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,400 shares of the technology company’s stock, valued at approximately $383,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Zayo Group by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,018 shares of the technology company’s stock valued at $280,000 after acquiring an additional 775 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Zayo Group by 158.5% in the 3rd quarter. Aperio Group LLC now owns 28,178 shares of the technology company’s stock valued at $970,000 after acquiring an additional 17,278 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Zayo Group in the 3rd quarter valued at about $1,596,000. Swiss National Bank grew its holdings in shares of Zayo Group by 2.1% in the 3rd quarter. Swiss National Bank now owns 806,500 shares of the technology company’s stock valued at $27,760,000 after acquiring an additional 16,700 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Zayo Group by 40.4% in the 3rd quarter. Sei Investments Co. now owns 202,918 shares of the technology company’s stock valued at $6,985,000 after acquiring an additional 58,363 shares in the last quarter. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Matt Steinfort sold 1,891 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $36.36, for a total transaction of $68,756.76. Following the completion of the sale, the chief financial officer now owns 5,565 shares in the company, valued at $202,343.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard W. Connor sold 1,091 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $36.76, for a total value of $40,105.16. Following the sale, the director now owns 147,169 shares of the company’s stock, valued at approximately $5,409,932.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,247,454 shares of company stock valued at $194,221,133. Corporate insiders own 5.20% of the company’s stock.
ZAYO has been the subject of several analyst reports. Morgan Stanley upgraded Zayo Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $40.00 in a report on Tuesday, December 12th. Zacks Investment Research upgraded Zayo Group from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Saturday, February 10th. Citigroup restated a “buy” rating on shares of Zayo Group in a report on Thursday, December 14th. SunTrust Banks raised their price objective on Zayo Group to $45.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Barclays reiterated a “buy” rating and set a $41.00 price target on shares of Zayo Group in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $41.09.
Zayo Group Holdings Inc (NYSE ZAYO) opened at $36.00 on Friday. Zayo Group Holdings Inc has a 1-year low of $29.73 and a 1-year high of $37.95. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $8,970.00, a PE ratio of 69.23, a P/E/G ratio of 19.26 and a beta of 0.49.
Zayo Group (NYSE:ZAYO) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10. Zayo Group had a return on equity of 10.19% and a net margin of 3.42%. The business had revenue of $653.50 million during the quarter, compared to analysts’ expectations of $650.79 million. analysts forecast that Zayo Group Holdings Inc will post 0.38 EPS for the current fiscal year.
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About Zayo Group
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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