Assenagon Asset Management S.A. bought a new stake in Zayo Group Holdings Inc (NYSE:ZAYO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 32,274 shares of the technology company’s stock, valued at approximately $1,094,000.
Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Zayo Group by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 18,250,124 shares of the technology company’s stock valued at $600,612,000 after acquiring an additional 436,643 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Zayo Group by 2.8% in the 2nd quarter. BlackRock Inc. now owns 12,877,964 shares of the technology company’s stock valued at $423,813,000 after acquiring an additional 353,946 shares during the last quarter. Pentwater Capital Management LP lifted its stake in shares of Zayo Group by 944.9% in the 2nd quarter. Pentwater Capital Management LP now owns 8,150,000 shares of the technology company’s stock valued at $268,217,000 after acquiring an additional 7,370,000 shares during the last quarter. Morgan Stanley lifted its stake in shares of Zayo Group by 7.5% in the 2nd quarter. Morgan Stanley now owns 4,997,983 shares of the technology company’s stock valued at $164,483,000 after acquiring an additional 348,739 shares during the last quarter. Finally, TIG Advisors LLC bought a new position in shares of Zayo Group in the 2nd quarter valued at $143,237,000. 87.59% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO John F. Jr. Waters sold 14,993 shares of Zayo Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $33.81, for a total value of $506,913.33. Following the completion of the transaction, the chief operating officer now directly owns 104,013 shares of the company’s stock, valued at approximately $3,516,679.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Caruso sold 8,141 shares of Zayo Group stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $33.75, for a total value of $274,758.75. Following the completion of the transaction, the chief executive officer now directly owns 372,406 shares of the company’s stock, valued at $12,568,702.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,069,803 shares of company stock valued at $36,145,148. 2.40% of the stock is owned by corporate insiders.
Zayo Group (NYSE:ZAYO) last announced its earnings results on Wednesday, August 21st. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.11. The business had revenue of $650.60 million during the quarter, compared to analyst estimates of $642.86 million. Zayo Group had a return on equity of 11.27% and a net margin of 5.82%. Zayo Group’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. As a group, equities research analysts expect that Zayo Group Holdings Inc will post 0.74 EPS for the current year.
Separately, ValuEngine cut Zayo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Thirteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.85.
About Zayo Group
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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