Connable Office Inc. Grows Holdings in Zayo Group Holdings Inc (ZAYO)
Connable Office Inc. grew its holdings in Zayo Group Holdings Inc (NYSE:ZAYO) by 27.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,161 shares of the technology company’s stock after purchasing an additional 22,974 shares during the quarter. Zayo Group comprises approximately 0.8% of Connable Office Inc.’s portfolio, making the stock its 20th largest holding. Connable Office Inc.’s holdings in Zayo Group were worth $3,907,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Thompson Davis & CO. Inc. raised its position in shares of Zayo Group by 2,600.0% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 3,375 shares of the technology company’s stock valued at $116,000 after buying an additional 3,250 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Zayo Group during the 4th quarter valued at approximately $126,000. SG Americas Securities LLC purchased a new stake in shares of Zayo Group during the 4th quarter valued at approximately $141,000. Rehmann Capital Advisory Group purchased a new stake in shares of Zayo Group during the 3rd quarter valued at approximately $212,000. Finally, Cadence Capital Management LLC purchased a new stake in shares of Zayo Group during the 3rd quarter valued at approximately $232,000. 84.71% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on ZAYO. UBS Group began coverage on shares of Zayo Group in a research report on Tuesday, October 17th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Zayo Group in a research report on Friday. Cowen reaffirmed a “buy” rating on shares of Zayo Group in a research report on Friday, November 10th. TheStreet raised shares of Zayo Group from a “c” rating to a “b-” rating in a research report on Tuesday, October 17th. Finally, BidaskClub raised shares of Zayo Group from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Zayo Group has an average rating of “Buy” and an average target price of $41.09.
In related news, CEO Daniel Caruso sold 17,950 shares of Zayo Group stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $37.76, for a total value of $677,792.00. Following the completion of the sale, the chief executive officer now owns 4,274,654 shares in the company, valued at approximately $161,410,935.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matt Steinfort sold 1,891 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $36.36, for a total transaction of $68,756.76. Following the completion of the transaction, the chief financial officer now owns 5,565 shares of the company’s stock, valued at approximately $202,343.40. The disclosure for this sale can be found here. Insiders sold a total of 4,992,882 shares of company stock valued at $179,430,128 in the last quarter. 5.20% of the stock is owned by insiders.
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Zayo Group Company Profile
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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