American International Group Inc. increased its stake in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 14.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,484 shares of the technology company’s stock after acquiring an additional 676 shares during the period. American International Group Inc.’s holdings in Zayo Group were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of ZAYO. SG Americas Securities LLC bought a new stake in shares of Zayo Group in the 3rd quarter worth about $1,194,000. MML Investors Services LLC purchased a new stake in Zayo Group in the 3rd quarter worth about $354,000. Bank of New York Mellon Corp raised its position in Zayo Group by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 941,186 shares of the technology company’s stock worth $32,678,000 after purchasing an additional 46,617 shares during the period. BlackRock Inc. lifted its stake in Zayo Group by 11.8% in the third quarter. BlackRock Inc. now owns 14,857,145 shares of the technology company’s stock worth $515,841,000 after purchasing an additional 1,568,218 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Zayo Group in the third quarter worth about $614,000. Institutional investors own 97.34% of the company’s stock.
Shares of ZAYO stock opened at $29.37 on Friday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 48.15, a P/E/G ratio of 10.46 and a beta of 0.90. Zayo Group Holdings Inc has a one year low of $20.27 and a one year high of $39.66.
Zayo Group (NYSE:ZAYO) last issued its earnings results on Thursday, February 7th. The technology company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). Zayo Group had a return on equity of 8.29% and a net margin of 4.62%. The company had revenue of $639.10 million for the quarter, compared to analysts’ expectations of $641.73 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that Zayo Group Holdings Inc will post 0.56 EPS for the current fiscal year.
Several research analysts have issued reports on the company. ValuEngine upgraded Zayo Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Zacks Investment Research upgraded Zayo Group from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Craig Hallum assumed coverage on Zayo Group in a research note on Wednesday, January 23rd. They set a “buy” rating and a $45.00 price target for the company. Finally, Deutsche Bank boosted their price objective on Zayo Group from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, February 11th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.32.
In related news, COO John F. Jr. Waters sold 6,296 shares of Zayo Group stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $28.04, for a total value of $176,539.84. Following the completion of the sale, the chief operating officer now directly owns 102,241 shares in the company, valued at $2,866,837.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sandra Mays sold 2,745 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $28.04, for a total transaction of $76,969.80. Following the completion of the sale, the insider now directly owns 47,395 shares of the company’s stock, valued at $1,328,955.80. The disclosure for this sale can be found here. 4.50% of the stock is 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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