Zimmer Partners LP trimmed its holdings in Zayo Group Holdings Inc (NYSE:ZAYO) by 10.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,691,800 shares of the technology company’s stock after selling 309,700 shares during the quarter. Zayo Group makes up about 2.4% of Zimmer Partners LP’s holdings, making the stock its 14th largest position. Zimmer Partners LP’s holdings in Zayo Group were worth $99,058,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Elkfork Partners LLC purchased a new stake in Zayo Group during the fourth quarter worth about $571,000. TIAA CREF Investment Management LLC grew its position in shares of Zayo Group by 18.1% in the 4th quarter. TIAA CREF Investment Management LLC now owns 753,911 shares of the technology company’s stock worth $27,744,000 after buying an additional 115,782 shares during the period. Teachers Advisors LLC grew its position in shares of Zayo Group by 33.6% in the 4th quarter. Teachers Advisors LLC now owns 267,494 shares of the technology company’s stock worth $9,844,000 after buying an additional 67,341 shares during the period. Two Sigma Investments LP boosted its stake in Zayo Group by 2,138.6% in the 4th quarter. Two Sigma Investments LP now owns 1,517,159 shares of the technology company’s stock worth $55,831,000 after purchasing an additional 1,449,386 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in Zayo Group in the 4th quarter worth about $26,093,000. 87.26% of the stock is currently owned by hedge funds and other institutional investors.
In other Zayo Group news, Director Richard W. Connor sold 1,091 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $36.76, for a total transaction of $40,105.16. Following the transaction, the director now owns 147,169 shares in the company, valued at approximately $5,409,932.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Caruso sold 17,950 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $37.76, for a total transaction of $677,792.00. Following the completion of the transaction, the chief executive officer now owns 4,274,654 shares in the company, valued at approximately $161,410,935.04. The disclosure for this sale can be found here. Insiders have sold a total of 572,454 shares of company stock worth $21,012,383 in the last 90 days. Company insiders own 5.20% of the company’s stock.
Zayo Group (NYSE:ZAYO) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.10. The business had revenue of $653.50 million for the quarter, compared to analysts’ expectations of $650.79 million. Zayo Group had a net margin of 3.42% and a return on equity of 10.19%. equities research analysts forecast that Zayo Group Holdings Inc will post 0.38 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on ZAYO. Zacks Investment Research upgraded shares of Zayo Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Saturday, February 10th. Royal Bank of Canada reiterated a “buy” rating on shares of Zayo Group in a research note on Friday, February 9th. Morgan Stanley upped their price target on shares of Zayo Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. SunTrust Banks upped their price target on shares of Zayo Group to $45.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Barclays reiterated a “buy” rating and issued a $41.00 price target on shares of Zayo Group in a research note on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $41.09.
ILLEGAL ACTIVITY NOTICE: “Zimmer Partners LP Sells 309,700 Shares of Zayo Group Holdings Inc (ZAYO)” was originally reported by Ticker Report and is the property of of Ticker Report. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/3262247/zimmer-partners-lp-sells-309700-shares-of-zayo-group-holdings-inc-zayo.html.
About Zayo Group
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.
Want to see what other hedge funds are holding ZAYO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zayo Group Holdings Inc (NYSE:ZAYO).
Receive News & Ratings for Zayo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zayo Group and related companies with MarketBeat.com's FREE daily email newsletter.