State Street Corp Sells 43,024 Shares of Zayo Group Holdings Inc (NYSE:ZAYO)

State Street Corp cut its position in Zayo Group Holdings Inc (NYSE:ZAYO) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,772,264 shares of the technology company’s stock after selling 43,024 shares during the period. State Street Corp owned 2.02% of Zayo Group worth $161,780,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ZAYO. Pentwater Capital Management LP increased its holdings in shares of Zayo Group by 944.9% during the second quarter. Pentwater Capital Management LP now owns 8,150,000 shares of the technology company’s stock worth $268,217,000 after buying an additional 7,370,000 shares in the last quarter. TIG Advisors LLC acquired a new position in shares of Zayo Group in the 2nd quarter worth approximately $143,237,000. Alpine Associates Management Inc. acquired a new position in shares of Zayo Group in the 2nd quarter worth approximately $141,703,000. Omni Partners LLP bought a new stake in Zayo Group during the 2nd quarter worth approximately $101,066,000. Finally, Farallon Capital Management LLC bought a new stake in Zayo Group during the 2nd quarter worth approximately $92,806,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Separately, ValuEngine downgraded Zayo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.75.

ZAYO opened at $34.28 on Friday. Zayo Group Holdings Inc has a 1-year low of $20.27 and a 1-year high of $34.37. The stock has a market capitalization of $8.11 billion, a PE ratio of 55.29, a PEG ratio of 13.16 and a beta of 0.72. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.56. The firm has a 50-day moving average price of $34.24 and a two-hundred day moving average price of $33.63.

Zayo Group (NYSE:ZAYO) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.10). The company had revenue of $638.60 million for the quarter, compared to analyst estimates of $644.17 million. Zayo Group had a return on equity of 11.34% and a net margin of 5.66%. Zayo Group’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, research analysts predict that Zayo Group Holdings Inc will post 0.71 EPS for the current year.

In related news, insider Sandra Mays sold 3,072 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $33.88, for a total value of $104,079.36. Following the transaction, the insider now owns 63,242 shares in the company, valued at $2,142,638.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel Caruso sold 1,000,000 shares of Zayo Group stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $33.78, for a total value of $33,780,000.00. Following the completion of the sale, the chief executive officer now owns 372,406 shares of the company’s stock, valued at $12,579,874.68. The disclosure for this sale can be found here. Insiders sold a total of 1,081,662 shares of company stock valued at $36,556,589 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Zayo Group (NYSE:ZAYO)

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