US Bancorp DE Increases Holdings in Zayo Group Holdings Inc (NYSE:ZAYO)

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US Bancorp DE raised its holdings in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 122.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 21,739 shares of the technology company’s stock after buying an additional 11,968 shares during the quarter. US Bancorp DE’s holdings in Zayo Group were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZAYO. Oppenheimer Asset Management Inc. lifted its stake in shares of Zayo Group by 20.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 65,656 shares of the technology company’s stock valued at $1,866,000 after purchasing an additional 10,962 shares during the period. Comerica Bank raised its position in Zayo Group by 426.2% during the fourth quarter. Comerica Bank now owns 52,200 shares of the technology company’s stock worth $1,424,000 after acquiring an additional 42,280 shares during the period. Two Sigma Advisers LP raised its position in Zayo Group by 5.5% during the fourth quarter. Two Sigma Advisers LP now owns 798,800 shares of the technology company’s stock worth $18,245,000 after acquiring an additional 41,896 shares during the period. Quinn Opportunity Partners LLC acquired a new position in Zayo Group during the fourth quarter worth $1,660,000. Finally, Parnassus Investments CA raised 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 worth $92,943,000 after acquiring an additional 1,511,984 shares during the period. Institutional investors and hedge funds own 92.77% of the company’s stock.

Shares of Zayo Group stock traded down $0.01 during trading hours on Wednesday, reaching $32.67. 1,256,984 shares of the company’s stock were exchanged, compared to its average volume of 5,896,525. Zayo Group Holdings Inc has a 1 year low of $20.27 and a 1 year high of $39.66. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 13.19 and a beta of 0.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 4.84.

Zayo Group (NYSE:ZAYO) last released its earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). Zayo Group had a return on equity of 9.56% and a net margin of 5.06%. The business had revenue of $647.20 million for the quarter, compared to analysts’ expectations of $639.98 million. During the same period in the previous year, the company earned $0.09 EPS. Zayo Group’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts anticipate that Zayo Group Holdings Inc will post 0.5 EPS for the current fiscal year.

In related news, Director Richard W. Connor sold 15,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $32.67, for a total value of $490,050.00. Following the completion of the sale, the director now owns 136,174 shares of the company’s stock, valued at $4,448,804.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sandra Mays sold 2,745 shares of the company’s 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 approximately $1,328,955.80. The disclosure for this sale can be found here. Insiders have sold 987,834 shares of company stock valued at $32,314,474 in the last ninety days. Insiders own 4.50% of the company’s stock.

A number of equities analysts have weighed in on the stock. Craig Hallum cut shares of Zayo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. William Blair cut shares of Zayo Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 9th. Raymond James cut shares of Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 price objective for the company. in a research report on Wednesday, May 22nd. Wells Fargo & Co cut shares of Zayo Group from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $34.00 to $35.00 in a research report on Wednesday, May 8th. Finally, Cowen cut shares of Zayo Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $37.00 to $35.00 in a research report on Wednesday, May 15th. Thirteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $35.02.

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Zayo Group Company 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: Determine Your Level of Risk Tolerance

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

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