BlackRock Inc. reduced its holdings in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,265,299 shares of the technology company’s stock after selling 2,591,846 shares during the period. BlackRock Inc. owned about 5.18% of Zayo Group worth $280,143,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can increased its position in shares of Zayo Group by 41,389.3% during the fourth quarter. Bank of Montreal Can now owns 4,053,917 shares of the technology company’s stock valued at $92,591,000 after acquiring an additional 4,044,146 shares in the last quarter. Zimmer Partners LP boosted its position in Zayo Group by 100.2% in the third quarter. Zimmer Partners LP now owns 8,040,619 shares of the technology company’s stock worth $279,170,000 after purchasing an additional 4,024,842 shares during the last quarter. Morgan Stanley increased its position in shares of Zayo Group by 149.3% during the 3rd quarter. Morgan Stanley now owns 4,579,809 shares of the technology company’s stock valued at $159,012,000 after purchasing an additional 2,742,559 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Zayo Group by 23.2% in the third quarter. Canada Pension Plan Investment Board now owns 9,700,928 shares of the technology company’s stock worth $336,816,000 after buying an additional 1,829,350 shares during the last quarter. Finally, Parnassus Investments CA grew its position in Zayo Group by 59.1% during the fourth quarter. Parnassus Investments CA now owns 4,069,308 shares of the technology company’s stock valued at $92,943,000 after buying an additional 1,511,984 shares during the period. Hedge funds and other institutional investors own 97.34% of the company’s stock.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Zayo Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 12th. Craig Hallum started coverage on Zayo Group in a research note on Wednesday, January 23rd. They set a “buy” rating and a $45.00 target price on the stock. ValuEngine cut shares of Zayo Group from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Finally, Deutsche Bank boosted their price target on shares of Zayo Group from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.32.
In other Zayo Group news, insider Sandra Mays sold 2,745 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John F. Jr. Waters sold 6,296 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total transaction of $176,539.84. Following the completion of the sale, the chief operating officer now owns 102,241 shares of the company’s stock, valued at $2,866,837.64. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.
ZAYO traded down $0.11 during trading hours on Friday, reaching $29.37. 4,268,999 shares of the company’s stock traded hands, compared to its average volume of 3,444,938. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 5.13. The stock has a market cap of $6.92 billion, a P/E ratio of 48.15, a PEG ratio of 10.46 and a beta of 0.90. Zayo Group Holdings Inc has a 52-week low of $20.27 and a 52-week 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 during the quarter, compared to the consensus estimate of $641.73 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. Zayo Group’s revenue was down 2.1% on a year-over-year basis. Equities analysts anticipate that Zayo Group Holdings Inc will post 0.56 EPS for the current fiscal year.
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.