Alliancebernstein L.P. Decreases Position in Zayo Group Holdings, Inc. (ZAYO)

Alliancebernstein L.P. decreased its stake in shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,679 shares of the technology company’s stock after selling 12,850 shares during the period. Alliancebernstein L.P.’s holdings in Zayo Group Holdings were worth $2,918,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Daiwa Securities Group Inc. boosted its position in Zayo Group Holdings by 475.0% in the first quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the technology company’s stock valued at $151,000 after buying an additional 3,800 shares during the last quarter. Nordea Investment Management AB boosted its position in Zayo Group Holdings by 6.8% in the first quarter. Nordea Investment Management AB now owns 5,240 shares of the technology company’s stock valued at $172,000 after buying an additional 335 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in Zayo Group Holdings by 113.6% in the first quarter. Meadow Creek Investment Management LLC now owns 5,536 shares of the technology company’s stock valued at $182,000 after buying an additional 2,944 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Zayo Group Holdings during the first quarter valued at $203,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Zayo Group Holdings during the first quarter valued at $212,000. Institutional investors and hedge funds own 74.63% of the company’s stock.

Zayo Group Holdings, Inc. (NYSE ZAYO) opened at 30.32 on Monday. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 233.23 and a beta of 0.54. Zayo Group Holdings, Inc. has a 12 month low of $27.62 and a 12 month high of $35.65. The stock’s 50 day moving average price is $31.85 and its 200-day moving average price is $32.40.

Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. Zayo Group Holdings had a net margin of 1.53% and a return on equity of 5.47%. The firm had revenue of $550.20 million during the quarter, compared to the consensus estimate of $545.63 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts expect that Zayo Group Holdings, Inc. will post $0.39 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Alliancebernstein L.P. Decreases Position in Zayo Group Holdings, Inc. (ZAYO)” was first reported by WKRB News and is the sole property of of WKRB News. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.wkrb13.com/markets/2284399/alliancebernstein-l-p-decreases-position-in-zayo-group-holdings-inc-zayo.html.

A number of equities analysts recently commented on ZAYO shares. Barclays PLC reaffirmed an “overweight” rating and issued a $38.00 target price on shares of Zayo Group Holdings in a report on Thursday, March 30th. Cowen and Company reaffirmed an “outperform” rating on shares of Zayo Group Holdings in a report on Wednesday, April 19th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $42.00 target price (up from $36.00) on shares of Zayo Group Holdings in a report on Friday, May 12th. CIBC raised their target price on Zayo Group Holdings from $36.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Finally, Citigroup Inc. raised their target price on Zayo Group Holdings from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $37.29.

In related news, CFO Kenneth Desgarennes sold 1,796 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $30.58, for a total transaction of $54,921.68. Following the completion of the sale, the chief financial officer now owns 1,095,852 shares of the company’s stock, valued at approximately $33,511,154.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Caruso sold 101,840 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $30.30, for a total transaction of $3,085,752.00. Following the sale, the chief executive officer now directly owns 4,645,393 shares of the company’s stock, valued at approximately $140,755,407.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 504,162 shares of company stock valued at $16,410,711. Insiders own 5.80% of the company’s stock.

Zayo Group Holdings Company Profile

Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.

Want to see what other hedge funds are holding ZAYO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zayo Group Holdings, Inc. (NYSE:ZAYO).

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

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2284399/alliancebernstein-l-p-decreases-position-in-zayo-group-holdings-inc-zayo.html

Receive News & Ratings for Zayo Group Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.