Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 664,774 shares of the technology company’s stock after acquiring an additional 26,653 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Zayo Group worth $23,081,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Zayo Group during the third quarter worth approximately $1,194,000. Picton Mahoney Asset Management raised its stake in Zayo Group by 4.4% during the third quarter. Picton Mahoney Asset Management now owns 155,515 shares of the technology company’s stock worth $5,399,000 after purchasing an additional 6,515 shares during the period. Thornburg Investment Management Inc. raised its stake in Zayo Group by 3.6% during the third quarter. Thornburg Investment Management Inc. now owns 2,765,711 shares of the technology company’s stock worth $96,025,000 after purchasing an additional 95,339 shares during the period. Gabelli Funds LLC raised its stake in Zayo Group by 7.4% during the third quarter. Gabelli Funds LLC now owns 43,400 shares of the technology company’s stock worth $1,507,000 after purchasing an additional 3,000 shares during the period. Finally, Signition LP purchased a new position in Zayo Group during the third quarter worth approximately $264,000.
Several research firms have recently issued reports on ZAYO. Moffett Nathanson raised shares of Zayo Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 15th. ValuEngine lowered shares of Zayo Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Zacks Investment Research lowered shares of Zayo Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. TheStreet raised shares of Zayo Group from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. Finally, William Blair reissued an “outperform” rating on shares of Zayo Group in a research report on Thursday, August 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. Zayo Group presently has a consensus rating of “Buy” and an average price target of $37.55.
Zayo Group (NYSE:ZAYO) last released its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). The firm had revenue of $641.10 million for the quarter, compared to analyst estimates of $647.21 million. Zayo Group had a net margin of 3.87% and a return on equity of 9.51%. Zayo Group’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. Equities analysts forecast that Zayo Group Holdings Inc will post 0.53 earnings per share for the current year.
In other Zayo Group news, insider Sandra Mays sold 1,586 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $34.14, for a total transaction of $54,146.04. Following the completion of the transaction, the insider now directly owns 35,800 shares of the company’s stock, valued at approximately $1,222,212. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard W. Connor sold 1,038 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $33.95, for a total transaction of $35,240.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 343,384 shares of company stock valued at $10,216,114. Company insiders own 4.50% of the company’s stock.
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Zayo Group Company 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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