Point Break Capital Management LLC acquired a new position in shares of Zayo Group Holdings Inc (NYSE:ZAYO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 432,053 shares of the technology company’s stock, valued at approximately $9,868,000. Zayo Group makes up about 2.8% of Point Break Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Point Break Capital Management LLC owned approximately 0.18% of Zayo Group at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Shellback Capital LP acquired a new stake in shares of Zayo Group during the 4th quarter worth about $11,372,000. MFN Partners Management LP acquired a new stake in shares of Zayo Group during the 4th quarter worth about $15,573,000. Nomura Holdings Inc. lifted its stake in shares of Zayo Group by 618.1% during the 4th quarter. Nomura Holdings Inc. now owns 70,520 shares of the technology company’s stock worth $1,603,000 after buying an additional 60,700 shares during the last quarter. Marlowe Partners LP lifted its stake in shares of Zayo Group by 68.1% during the 4th quarter. Marlowe Partners LP now owns 1,274,261 shares of the technology company’s stock worth $29,104,000 after buying an additional 516,312 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of Zayo Group by 14.1% during the 4th quarter. American International Group Inc. now owns 5,484 shares of the technology company’s stock worth $125,000 after buying an additional 676 shares during the last quarter. 96.78% of the stock is owned by institutional investors.
ZAYO has been the subject of a number of research reports. ValuEngine cut shares of Zayo Group from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Craig Hallum began coverage on shares of Zayo Group in a research note on Wednesday, January 23rd. They set a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Zayo Group from a “neutral” rating to an “overweight” rating and set a $25.48 price objective for the company in a research note on Wednesday, November 28th. Deutsche Bank lifted their price objective on shares of Zayo Group from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. Finally, Zacks Investment Research upgraded shares of Zayo Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $35.32.
Zayo Group (NYSE:ZAYO) last released its earnings results on Thursday, February 7th. The technology company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $639.10 million during the quarter, compared to the consensus estimate of $641.73 million. Zayo Group had a net margin of 4.62% and a return on equity of 8.29%. Zayo Group’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, equities research analysts expect that Zayo Group Holdings Inc will post 0.58 EPS for the current fiscal year.
In related news, CFO Matt Steinfort sold 6,142 shares of Zayo Group stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $24.16, for a total transaction of $148,390.72. Following the sale, the chief financial officer now directly owns 22,896 shares of the company’s stock, valued at approximately $553,167.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO John F. Jr. Waters sold 5,548 shares of Zayo Group stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $24.16, for a total transaction of $134,039.68. Following the sale, the chief technology officer now directly owns 87,309 shares in the company, valued at $2,109,385.44. The disclosure for this sale can be found here. Insiders have sold a total of 16,144 shares of company stock worth $390,039 over the last ninety days. 4.50% of the stock is currently owned by insiders.
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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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