18,710 Shares in Zayo Group Holdings Inc (NYSE:ZAYO) Purchased by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co purchased a new position in shares of Zayo Group Holdings Inc (NYSE:ZAYO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,710 shares of the technology company’s stock, valued at approximately $532,000.

Several other institutional investors have also recently modified their holdings of ZAYO. Norges Bank acquired a new position in shares of Zayo Group during the fourth quarter worth about $36,183,000. Assenagon Asset Management S.A. increased its stake in shares of Zayo Group by 1,446.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,378,002 shares of the technology company’s stock worth $39,163,000 after acquiring an additional 1,288,884 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Zayo Group during the fourth quarter worth about $27,324,000. Millennium Management LLC increased its stake in shares of Zayo Group by 78.2% during the fourth quarter. Millennium Management LLC now owns 2,154,017 shares of the technology company’s stock worth $49,198,000 after acquiring an additional 945,364 shares during the period. Finally, MFN Partners Management LP acquired a new position in shares of Zayo Group during the fourth quarter worth about $15,573,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

In other Zayo Group news, CEO Daniel Caruso sold 294,436 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $32.75, for a total transaction of $9,642,779.00. Following the transaction, the chief executive officer now owns 380,547 shares of the company’s stock, valued at $12,462,914.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sandra Mays sold 2,745 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $28.04, for a total transaction of $76,969.80. Following the transaction, the insider now directly owns 47,395 shares in the company, valued at approximately $1,328,955.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 987,834 shares of company stock worth $32,314,474. 4.50% of the stock is currently owned by insiders.

Several research analysts have weighed in on the stock. Cowen lowered shares of Zayo Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $37.00 to $35.00 in a research report on Wednesday, May 15th. ValuEngine upgraded shares of Zayo Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Craig Hallum lowered shares of Zayo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Wells Fargo & Co downgraded shares of Zayo Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $34.00 to $35.00 in a report on Wednesday, May 8th. Finally, Royal Bank of Canada downgraded shares of Zayo Group from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $33.00 to $35.00 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 company. Zayo Group has a consensus rating of “Hold” and a consensus price target of $35.02.

NYSE:ZAYO traded up $0.02 during trading hours on Thursday, reaching $32.62. 42,984 shares of the company were exchanged, compared to its average volume of 4,059,160. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 4.84. The company has a market cap of $7.70 billion, a P/E ratio of 53.50, a P/E/G ratio of 13.18 and a beta of 0.82. 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 posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The company had revenue of $647.20 million for the quarter, compared to analysts’ expectations of $639.98 million. Zayo Group had a return on equity of 9.56% and a net margin of 5.06%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Research analysts forecast that Zayo Group Holdings Inc will post 0.5 earnings per share for the current fiscal year.

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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.

Further Reading: Hedge Funds Explained

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

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