Stock Traders Buy High Volume of Call Options on Zayo Group (ZAYO)

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Zayo Group Holdings Inc (NYSE:ZAYO) was the target of unusually large options trading on Tuesday. Investors purchased 2,568 call options on the stock. This is an increase of 1,273% compared to the typical daily volume of 187 call options.

NYSE ZAYO opened at $37.90 on Wednesday. The company has a debt-to-equity ratio of 3.77, a quick ratio of 1.11 and a current ratio of 1.11. Zayo Group has a 52 week low of $32.91 and a 52 week high of $39.66. The stock has a market capitalization of $9.41 billion, a PE ratio of 95.23, a P/E/G ratio of 15.89 and a beta of 0.48.

Several brokerages have issued reports on ZAYO. Zacks Investment Research cut Zayo Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. ValuEngine raised Zayo Group from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Finally, Bank of America began coverage on Zayo Group in a research report on Friday, May 18th. They issued a “buy” rating and a $43.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.40.

In other Zayo Group news, Director Richard W. Connor sold 1,096 shares of the firm’s stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $37.41, for a total value of $41,001.36. Following the transaction, the director now directly owns 147,281 shares of the company’s stock, valued at $5,509,782.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Rottenberg sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $35.60, for a total value of $178,000.00. Following the completion of the transaction, the director now directly owns 25,417 shares in the company, valued at $904,845.20. The disclosure for this sale can be found here. Insiders sold 302,521 shares of company stock worth $11,375,143 over the last three months. Insiders own 5.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Zayo Group by 11.8% in the second quarter. BlackRock Inc. now owns 13,288,927 shares of the technology company’s stock worth $484,781,000 after buying an additional 1,401,301 shares during the period. Senator Investment Group LP raised its stake in shares of Zayo Group by 11.3% in the second quarter. Senator Investment Group LP now owns 10,000,000 shares of the technology company’s stock worth $364,800,000 after buying an additional 1,015,000 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Zayo Group by 60.6% in the second quarter. Canada Pension Plan Investment Board now owns 7,871,578 shares of the technology company’s stock worth $287,155,000 after buying an additional 2,971,505 shares during the period. Carmignac Gestion raised its stake in shares of Zayo Group by 16.7% in the first quarter. Carmignac Gestion now owns 4,746,997 shares of the technology company’s stock worth $162,157,000 after buying an additional 680,424 shares during the period. Finally, Cadian Capital Management LP raised its stake in shares of Zayo Group by 28.4% in the second quarter. Cadian Capital Management LP now owns 4,000,000 shares of the technology company’s stock worth $145,920,000 after buying an additional 885,000 shares during the period. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

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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