Tokio Marine Asset Management Co. Ltd. purchased a new stake in Zayo Group Holdings Inc (NYSE:ZAYO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 93,900 shares of the technology company’s stock, valued at approximately $3,090,000.
A number of other large investors have also recently made changes to their positions in ZAYO. Oppenheimer Asset Management Inc. lifted its holdings in shares of Zayo Group by 20.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 65,656 shares of the technology company’s stock worth $1,866,000 after acquiring an additional 10,962 shares during the last quarter. Keeley Teton Advisors LLC bought a new stake in Zayo Group in the first quarter worth $913,000. Quantamental Technologies LLC bought a new stake in Zayo Group in the first quarter worth $183,000. Xact Kapitalforvaltning AB lifted its stake in Zayo Group by 16.0% in the second quarter. Xact Kapitalforvaltning AB now owns 39,953 shares of the technology company’s stock worth $1,315,000 after purchasing an additional 5,515 shares during the last quarter. Finally, Norges Bank bought a new stake in Zayo Group in the fourth quarter worth $36,183,000. 92.67% of the stock is owned by hedge funds and other institutional investors.
In other Zayo Group news, COO John F. Jr. Waters sold 15,331 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $33.05, for a total transaction of $506,689.55. Following the completion of the transaction, the chief operating officer now owns 119,096 shares in the company, valued at $3,936,122.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Caruso sold 655,585 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $32.76, for a total transaction of $21,476,964.60. Following the transaction, the chief executive officer now owns 380,547 shares of the company’s stock, valued at approximately $12,466,719.72. The disclosure for this sale can be found here. Insiders have sold 1,437,607 shares of company stock valued at $47,051,887 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.
Zayo Group (NYSE:ZAYO) last issued its earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). The firm had revenue of $647.20 million during the quarter, compared to the consensus estimate of $639.98 million. Zayo Group had a return on equity of 9.56% and a net margin of 5.06%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. Sell-side analysts anticipate that Zayo Group Holdings Inc will post 0.5 earnings per share for the current year.
Several analysts have weighed in on the stock. SunTrust Banks downgraded shares of Zayo Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. UBS Group boosted their price target on shares of Zayo Group from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Raymond James downgraded shares of Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 price target for the company. in a research note on Wednesday, May 22nd. Craig Hallum cut shares of Zayo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Citigroup cut shares of Zayo Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $35.00 in a research report on Thursday, May 16th. Thirteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Zayo Group presently has an average rating of “Hold” and an average price target of $35.02.
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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