Legal & General Group Plc lifted its position in Zayo Group Holdings Inc (NYSE:ZAYO) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,724 shares of the technology company’s stock after acquiring an additional 30,064 shares during the period. Legal & General Group Plc owned approximately 0.14% of Zayo Group worth $13,086,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Zayo Group by 11.0% in the 1st quarter. JPMorgan Chase & Co. now owns 15,661 shares of the technology company’s stock valued at $535,000 after acquiring an additional 1,548 shares during the period. GSA Capital Partners LLP raised its position in shares of Zayo Group by 77.4% in the 1st quarter. GSA Capital Partners LLP now owns 37,965 shares of the technology company’s stock valued at $1,297,000 after acquiring an additional 16,560 shares during the period. State of Wisconsin Investment Board raised its position in shares of Zayo Group by 29.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 218,827 shares of the technology company’s stock valued at $7,983,000 after acquiring an additional 49,375 shares during the period. Canada Pension Plan Investment Board increased its stake in Zayo Group by 60.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,871,578 shares of the technology company’s stock worth $287,155,000 after purchasing an additional 2,971,505 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Zayo Group by 11.8% during the 2nd quarter. BlackRock Inc. now owns 13,288,927 shares of the technology company’s stock worth $484,781,000 after purchasing an additional 1,401,301 shares in the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.

A number of research firms recently issued reports on ZAYO. Jefferies Financial Group began coverage on Zayo Group in a research note on Tuesday, September 4th. They set a “buy” rating and a $49.00 target price for the company. TheStreet raised Zayo Group from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. ValuEngine cut Zayo Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. William Blair reissued an “outperform” rating on shares of Zayo Group in a research note on Thursday, August 23rd. Finally, Zacks Investment Research cut Zayo Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Zayo Group presently has a consensus rating of “Buy” and a consensus target price of $42.80.

In other news, Director Richard W. Connor sold 1,096 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $37.41, for a total transaction of $41,001.36. Following the completion of the transaction, the director now directly owns 147,281 shares of the company’s stock, valued at approximately $5,509,782.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matt Steinfort sold 1,188 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $37.10, for a total transaction of $44,074.80. Following the transaction, the chief financial officer now directly owns 11,694 shares of the company’s stock, valued at $433,847.40. The disclosure for this sale can be found here. Insiders have sold a total of 297,521 shares of company stock valued at $11,197,143 over the last ninety days. Company insiders own 5.20% of the company’s stock.

NYSE ZAYO opened at $34.88 on Friday. Zayo Group Holdings Inc has a 52-week low of $32.91 and a 52-week high of $39.66. The company has a debt-to-equity ratio of 3.90, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $8.54 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 13.00 and a beta of 0.43.

Zayo Group (NYSE:ZAYO) last issued its quarterly earnings results on Wednesday, August 22nd. The technology company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.09. The company had revenue of $657.60 million during the quarter, compared to analysts’ expectations of $655.78 million. Zayo Group had a net margin of 3.91% and a return on equity of 9.97%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. sell-side analysts expect that Zayo Group Holdings Inc will post 0.53 earnings per share for the current year.

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.

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

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