Elk Creek Partners LLC Has $3.29 Million Stake in Zayo Group Holdings, Inc. (ZAYO)

Elk Creek Partners LLC cut its position in Zayo Group Holdings, Inc. (NYSE:ZAYO) by 8.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,477 shares of the technology company’s stock after selling 10,260 shares during the period. Elk Creek Partners LLC’s holdings in Zayo Group Holdings were worth $3,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in shares of 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 worth $151,000 after purchasing an additional 3,800 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Zayo Group Holdings in the first quarter worth $151,000. Nordea Investment Management AB increased its stake in shares of 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 worth $172,000 after purchasing an additional 335 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of 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 worth $182,000 after purchasing an additional 2,944 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Zayo Group Holdings in the first quarter worth $203,000. 78.91% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on ZAYO. Zacks Investment Research cut shares of Zayo Group Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating on shares of Zayo Group Holdings in a research note on Tuesday, August 22nd. Cowen and Company reissued a “buy” rating on shares of Zayo Group Holdings in a research note on Friday, August 11th. Deutsche Bank AG began coverage on shares of Zayo Group Holdings in a research note on Monday, August 28th. They issued a “hold” rating for the company. Finally, BidaskClub raised shares of Zayo Group Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Zayo Group Holdings has an average rating of “Hold” and an average price target of $38.36.

In related news, COO Andrew Crouch sold 18,236 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $30.18, for a total value of $550,362.48. Following the completion of the sale, the chief operating officer now owns 29,386 shares of the company’s stock, valued at approximately $886,869.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John F. Jr. Waters sold 9,220 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $30.18, for a total transaction of $278,259.60. Following the completion of the sale, the insider now directly owns 41,586 shares of the company’s stock, valued at approximately $1,255,065.48. The disclosure for this sale can be found here. In the last three months, insiders sold 5,582,516 shares of company stock valued at $190,206,747. 5.80% of the stock is owned by insiders.

Zayo Group Holdings, Inc. (ZAYO) opened at 35.40 on Tuesday. The firm’s 50-day moving average is $33.91 and its 200 day moving average is $32.79. Zayo Group Holdings, Inc. has a 52-week low of $29.10 and a 52-week high of $35.65. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 101.14 and a beta of 0.55.

Zayo Group Holdings (NYSE:ZAYO) last issued its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $642.67 million. Zayo Group Holdings had a return on equity of 7.48% and a net margin of 3.90%. Zayo Group Holdings’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) EPS. On average, equities research analysts predict that Zayo Group Holdings, Inc. will post $0.60 EPS for the current fiscal year.

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Zayo Group Holdings 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.

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

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