Virtu Financial LLC bought a new position in Zayo Group Holdings Inc (NYSE:ZAYO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,677 shares of the technology company’s stock, valued at approximately $614,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of ZAYO. Public Employees Retirement System of Ohio increased its position in Zayo Group by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 196,197 shares of the technology company’s stock valued at $7,157,000 after purchasing an additional 1,359 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Zayo Group by 12.7% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,662 shares of the technology company’s stock valued at $571,000 after purchasing an additional 1,767 shares during the period. Toronto Dominion Bank increased its position in Zayo Group by 9.2% during the 3rd quarter. Toronto Dominion Bank now owns 22,952 shares of the technology company’s stock valued at $797,000 after purchasing an additional 1,937 shares during the period. IFM Investors Pty Ltd increased its position in Zayo Group by 26.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 9,484 shares of the technology company’s stock valued at $329,000 after purchasing an additional 1,955 shares during the period. Finally, D.A. Davidson & CO. increased its position in Zayo Group by 30.5% during the 2nd quarter. D.A. Davidson & CO. now owns 9,871 shares of the technology company’s stock valued at $360,000 after purchasing an additional 2,307 shares during the period. 98.73% of the stock is currently owned by institutional investors.
ZAYO has been the topic of a number of research analyst reports. TheStreet raised shares of Zayo Group from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. Moffett Nathanson raised shares of Zayo Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 15th. Jefferies Financial Group initiated coverage on shares of Zayo Group in a research report on Tuesday, September 4th. They set a “buy” rating and a $49.00 price objective on the stock. SunTrust Banks reissued a “buy” rating and set a $38.00 price objective on shares of Zayo Group in a research report on Thursday, November 8th. Finally, Deutsche Bank reduced their price objective on shares of Zayo Group from $42.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.54.
In related news, Director Richard W. Connor sold 1,038 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $33.95, for a total value of $35,240.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel Caruso sold 337,079 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $29.67, for a total transaction of $10,001,133.93. Following the completion of the transaction, the chief executive officer now owns 471,851 shares in the company, valued at approximately $13,999,819.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 343,384 shares of company stock worth $10,216,114. Company insiders own 4.50% of the company’s stock.
Shares of ZAYO stock opened at $24.97 on Friday. Zayo Group Holdings Inc has a 12 month low of $21.92 and a 12 month high of $39.66. The firm has a market cap of $6.15 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 9.75 and a beta of 0.60. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 3.75.
Zayo Group (NYSE:ZAYO) last announced its earnings results on Wednesday, November 7th. The technology company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). Zayo Group had a net margin of 3.87% and a return on equity of 9.51%. The business had revenue of $641.10 million for the quarter, compared to the consensus estimate of $647.21 million. During the same quarter last year, the firm posted $0.09 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts expect that Zayo Group Holdings Inc will post 0.53 earnings per share for the current year.
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Zayo Group 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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