Connable Office Inc. bought a new stake in shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) during the second quarter, Holdings Channel reports. The institutional investor bought 44,112 shares of the technology company’s stock, valued at approximately $1,363,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd bought a new position in Zayo Group Holdings during the first quarter valued at $151,000. Daiwa Securities Group Inc. increased its position in 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 valued at $151,000 after buying an additional 3,800 shares during the period. Nordea Investment Management AB increased its position in 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 valued at $172,000 after buying an additional 335 shares during the period. Meadow Creek Investment Management LLC increased its position in 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 valued at $182,000 after buying an additional 2,944 shares during the period. Finally, Neuberger Berman Group LLC bought a new position in Zayo Group Holdings during the first quarter valued at $203,000. Institutional investors own 74.40% of the company’s stock.

Shares of Zayo Group Holdings, Inc. (NYSE ZAYO) opened at 34.33 on Thursday. The firm’s 50-day moving average price is $31.62 and its 200 day moving average price is $32.24. Zayo Group Holdings, Inc. has a 52 week low of $27.74 and a 52 week high of $35.65. The company has a market capitalization of $8.44 billion, a PE ratio of 264.08 and a beta of 0.56.

Zayo Group Holdings (NYSE:ZAYO) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. The business had revenue of $550.20 million during the quarter, compared to the consensus estimate of $545.63 million. Zayo Group Holdings had a net margin of 1.53% and a return on equity of 5.47%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. Equities analysts predict that Zayo Group Holdings, Inc. will post $0.39 EPS for the current year.

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Several equities analysts recently weighed in on the company. BidaskClub upgraded Zayo Group Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $42.00 price objective (up from $36.00) on shares of Zayo Group Holdings in a research report on Friday, May 12th. J P Morgan Chase & Co downgraded Zayo Group Holdings from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $36.00 in a research report on Wednesday, May 10th. Zacks Investment Research downgraded Zayo Group Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, CIBC boosted their price objective on Zayo Group Holdings from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Zayo Group Holdings has a consensus rating of “Hold” and a consensus price target of $37.85.

In related news, COO Andrew Crouch sold 18,236 shares of Zayo Group Holdings stock in a transaction that occurred 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 in the company, valued at approximately $886,869.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Desgarennes sold 38,885 shares of Zayo Group Holdings stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $31.82, for a total transaction of $1,237,320.70. Following the completion of the sale, the chief financial officer now owns 1,084,688 shares of the company’s stock, valued at approximately $34,514,772.16. The disclosure for this sale can be found here. Insiders have sold a total of 637,306 shares of company stock valued at $20,270,946 in the last 90 days. Insiders own 5.80% of the company’s stock.

About Zayo Group Holdings

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.

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

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