Xact Kapitalforvaltning AB cut its position in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 3.2% in the first quarter, HoldingsChannel reports. The firm owned 34,438 shares of the technology company’s stock after selling 1,136 shares during the period. Xact Kapitalforvaltning AB’s holdings in Zayo Group were worth $979,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of ZAYO. Oppenheimer Asset Management Inc. increased its holdings in shares of Zayo Group by 20.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 65,656 shares of the technology company’s stock valued at $1,866,000 after acquiring an additional 10,962 shares during the last quarter. Comerica Bank increased its holdings in shares of Zayo Group by 426.2% during the 4th quarter. Comerica Bank now owns 52,200 shares of the technology company’s stock valued at $1,424,000 after acquiring an additional 42,280 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Zayo Group by 5.5% during the 4th quarter. Two Sigma Advisers LP now owns 798,800 shares of the technology company’s stock valued at $18,245,000 after acquiring an additional 41,896 shares during the last quarter. Quinn Opportunity Partners LLC acquired a new position in shares of Zayo Group during the 4th quarter valued at about $1,660,000. Finally, Parnassus Investments CA increased its holdings in shares of Zayo Group by 59.1% during the 4th quarter. Parnassus Investments CA now owns 4,069,308 shares of the technology company’s stock valued at $92,943,000 after acquiring an additional 1,511,984 shares during the last quarter. 92.77% of the stock is owned by institutional investors.
In other Zayo Group news, CEO Daniel Caruso sold 655,585 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $32.76, for a total value of $21,476,964.60. Following the completion of the transaction, the chief executive officer now directly owns 380,547 shares of the company’s stock, valued at $12,466,719.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Connor sold 15,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $32.67, for a total value of $490,050.00. Following the completion of the transaction, the director now directly owns 136,174 shares of the company’s stock, valued at $4,448,804.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 987,834 shares of company stock valued at $32,314,474. Insiders own 4.50% of the company’s stock.
Zayo Group (NYSE:ZAYO) last posted 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). Zayo Group had a net margin of 5.06% and a return on equity of 9.56%. The business had revenue of $647.20 million during the quarter, compared to analyst estimates of $639.98 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Analysts expect that Zayo Group Holdings Inc will post 0.5 EPS for the current fiscal year.
A number of research firms have issued reports on ZAYO. Raymond James lowered Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 target price on the stock. in a report on Wednesday, May 22nd. SunTrust Banks downgraded Zayo Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Citigroup cut Zayo Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $35.00 in a research note on Thursday, May 16th. Cowen cut Zayo Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $37.00 to $35.00 in a research note on Wednesday, May 15th. Finally, William Blair cut Zayo Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 9th. Thirteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $35.02.
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About Zayo Group
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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