Insider Selling: Zayo Group Holdings Inc (NYSE:ZAYO) COO Sells 14,993 Shares of Stock

Zayo Group Holdings Inc (NYSE:ZAYO) COO John F. Jr. Waters sold 14,993 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $33.81, for a total value of $506,913.33. Following the completion of the sale, the chief operating officer now owns 104,013 shares in the company, valued at $3,516,679.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NYSE ZAYO traded up $0.04 during trading hours on Monday, hitting $33.84. 2,323,269 shares of the company’s stock were exchanged, compared to its average volume of 4,709,397. The business’s 50 day moving average is $33.75 and its 200-day moving average is $31.74. Zayo Group Holdings Inc has a 12-month low of $20.27 and a 12-month high of $35.68. The firm has a market capitalization of $8.00 billion, a P/E ratio of 54.58, a price-to-earnings-growth ratio of 9.09 and a beta of 0.77. The company has a debt-to-equity ratio of 4.48, a quick ratio of 0.75 and a current ratio of 0.75.

Zayo Group (NYSE:ZAYO) last released its earnings results on Wednesday, August 21st. The technology company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.11. Zayo Group had a return on equity of 11.27% and a net margin of 5.82%. The firm had revenue of $650.60 million for the quarter, compared to the consensus estimate of $642.86 million. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Zayo Group Holdings Inc will post 0.75 EPS for the current fiscal year.

Several analysts have recently issued reports on ZAYO shares. Raymond James downgraded Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 price objective on the stock. in a research report on Wednesday, May 22nd. SunTrust Banks downgraded Zayo Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Finally, ValuEngine downgraded Zayo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Thirteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $33.85.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Zayo Group by 2.5% during the second quarter. Vanguard Group Inc. now owns 18,250,124 shares of the technology company’s stock worth $600,612,000 after buying an additional 436,643 shares during the period. BlackRock Inc. raised its holdings in shares of Zayo Group by 2.8% in the 2nd quarter. BlackRock Inc. now owns 12,877,964 shares of the technology company’s stock worth $423,813,000 after purchasing an additional 353,946 shares during the period. Pentwater Capital Management LP raised its holdings in shares of Zayo Group by 944.9% in the 2nd quarter. Pentwater Capital Management LP now owns 8,150,000 shares of the technology company’s stock worth $268,217,000 after purchasing an additional 7,370,000 shares during the period. Morgan Stanley raised its holdings in shares of Zayo Group by 7.5% in the 2nd quarter. Morgan Stanley now owns 4,997,983 shares of the technology company’s stock worth $164,483,000 after purchasing an additional 348,739 shares during the period. Finally, TIG Advisors LLC purchased a new position in shares of Zayo Group in the 2nd quarter worth about $143,237,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.

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.

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