State of New Jersey Common Pension Fund D Sells 20,000 Shares of Zayo Group Holdings Inc (NYSE:ZAYO)

State of New Jersey Common Pension Fund D trimmed its position in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,000 shares of the technology company’s stock after selling 20,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Zayo Group were worth $2,633,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ZAYO. Nisa Investment Advisors LLC raised its stake in Zayo Group by 9.5% in the second quarter. Nisa Investment Advisors LLC now owns 5,145 shares of the technology company’s stock worth $169,000 after buying an additional 445 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Zayo Group by 7.6% in the first quarter. Daiwa Securities Group Inc. now owns 7,750 shares of the technology company’s stock worth $220,000 after buying an additional 550 shares in the last quarter. Advisory Services Network LLC raised its stake in Zayo Group by 138.5% in the first quarter. Advisory Services Network LLC now owns 992 shares of the technology company’s stock worth $28,000 after buying an additional 576 shares in the last quarter. Elk Creek Partners LLC raised its stake in Zayo Group by 0.6% in the first quarter. Elk Creek Partners LLC now owns 105,777 shares of the technology company’s stock worth $3,006,000 after buying an additional 582 shares in the last quarter. Finally, Strs Ohio raised its stake in Zayo Group by 28.0% in the first quarter. Strs Ohio now owns 2,763 shares of the technology company’s stock worth $78,000 after buying an additional 604 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Sandra Mays sold 3,395 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $33.05, for a total transaction of $112,204.75. Following the sale, the insider now owns 55,764 shares in the company, valued at $1,843,000.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matt Steinfort sold 7,888 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $33.05, for a total transaction of $260,698.40. Following the sale, the chief financial officer now owns 54,435 shares in the company, valued at approximately $1,799,076.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,437,607 shares of company stock worth $47,051,887. Corporate insiders own 4.50% of the company’s stock.

Shares of NYSE:ZAYO traded down $0.05 during trading on Friday, reaching $33.70. 61,540 shares of the stock traded hands, compared to its average volume of 1,645,546. The firm’s 50-day moving average price is $33.24. Zayo Group Holdings Inc has a 52-week low of $20.27 and a 52-week high of $38.19. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $7.95 billion, a PE ratio of 55.26, a P/E/G ratio of 10.28 and a beta of 0.77.

Zayo Group (NYSE:ZAYO) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). Zayo Group had a net margin of 5.06% and a return on equity of 9.56%. The firm had revenue of $647.20 million for the quarter, compared to analysts’ expectations of $639.98 million. During the same quarter in the previous year, the company earned $0.09 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. Analysts predict that Zayo Group Holdings Inc will post 0.5 earnings per share for the current year.

A number of brokerages have weighed in on ZAYO. Moffett Nathanson cut shares of Zayo Group from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. SunTrust Banks cut shares of Zayo Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. UBS Group upped their price objective on shares of Zayo Group from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Raymond James cut shares of Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 price objective on the stock. in a report on Wednesday, May 22nd. Finally, Craig Hallum cut shares of Zayo Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.02.

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

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