Eagle Asset Management Inc. Purchases 179,485 Shares of Zayo Group Holdings Inc (ZAYO)
Eagle Asset Management Inc. lifted its position in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 18.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,166,905 shares of the technology company’s stock after acquiring an additional 179,485 shares during the period. Eagle Asset Management Inc. owned 0.47% of Zayo Group worth $42,568,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in ZAYO. Thompson Davis & CO. Inc. grew its position in shares of Zayo Group by 60.0% during the first quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock worth $171,000 after acquiring an additional 1,875 shares during the last quarter. Cerebellum GP LLC grew its position in shares of Zayo Group by 56.5% during the second quarter. Cerebellum GP LLC now owns 5,048 shares of the technology company’s stock worth $184,000 after acquiring an additional 1,822 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Zayo Group during the first quarter worth about $212,000. D.A. Davidson & CO. bought a new position in shares of Zayo Group during the first quarter worth about $258,000. Finally, IFM Investors Pty Ltd bought a new position in shares of Zayo Group during the second quarter worth about $275,000. Institutional investors and hedge funds own 87.50% of the company’s stock.
In other Zayo Group news, CEO Daniel Caruso sold 265,866 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $37.61, for a total value of $9,999,220.26. Following the completion of the sale, the chief executive officer now directly owns 471,851 shares of the company’s stock, valued at approximately $17,746,316.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matt Steinfort sold 1,730 shares of the company’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $37.31, for a total transaction of $64,546.30. Following the completion of the sale, the chief financial officer now directly owns 11,694 shares of the company’s stock, valued at $436,303.14. The disclosure for this sale can be found here. Insiders sold 302,521 shares of company stock valued at $11,375,143 in the last ninety days. Corporate insiders own 5.20% of the company’s stock.
ZAYO has been the subject of several research analyst reports. Bank of America initiated coverage on shares of Zayo Group in a report on Friday, May 18th. They issued a “buy” rating and a $43.00 price objective for the company. Zacks Investment Research reaffirmed a “hold” rating on shares of Zayo Group in a report on Saturday, April 21st. Finally, ValuEngine raised shares of Zayo Group from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.40.
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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