Prudential Financial Inc. increased its stake in shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) by 13.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,600 shares of the technology company’s stock after buying an additional 1,102 shares during the period. Prudential Financial Inc.’s holdings in Zayo Group Holdings were worth $316,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its position in shares of 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 boosted its stake 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 worth $172,000 after buying an additional 335 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake 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 worth $182,000 after buying an additional 2,944 shares during the last quarter. Comerica Bank purchased a new stake in Zayo Group Holdings during the fourth quarter worth approximately $206,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Zayo Group Holdings during the first quarter worth approximately $212,000. Institutional investors and hedge funds own 75.89% of the company’s stock.
Shares of Zayo Group Holdings, Inc. (ZAYO) traded down 1.30% on Thursday, reaching $33.36. The company’s stock had a trading volume of 1,205,668 shares. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 256.62 and a beta of 0.56. The stock has a 50-day moving average price of $31.97 and a 200-day moving average price of $32.32. Zayo Group Holdings, Inc. has a 1-year low of $27.74 and a 1-year high of $35.65.
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A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Zayo Group Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Cowen and Company reissued a “buy” rating on shares of Zayo Group Holdings in a report on Friday, August 11th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $42.00 price target (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 raised their price target for the stock from $35.00 to $36.00 in a research report on Wednesday, May 10th. Finally, CIBC lifted their target price on Zayo Group Holdings from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $37.85.
In other Zayo Group Holdings news, COO Andrew Crouch sold 18,236 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $30.18, for a total transaction of $550,362.48. Following the transaction, the chief operating officer now directly owns 29,386 shares of the company’s stock, valued at $886,869.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kenneth Desgarennes sold 1,796 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $30.58, for a total value of $54,921.68. Following the completion of the sale, the chief financial officer now directly owns 1,095,852 shares in the company, valued at $33,511,154.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 637,306 shares of company stock valued at $20,270,946. 5.80% of the stock is owned by corporate insiders.
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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