Zayo Group Holdings Inc (NYSE:ZAYO) – Stock analysts at SunTrust Banks lowered their FY2018 earnings estimates for shares of Zayo Group in a report issued on Thursday. SunTrust Banks analyst G. Miller now anticipates that the technology company will post earnings per share of $0.35 for the year, down from their prior forecast of $0.46. SunTrust Banks currently has a “Buy” rating and a $45.00 price target on the stock.
Several other research firms have also recently weighed in on ZAYO. Citigroup reaffirmed a “buy” rating on shares of Zayo Group in a research report on Thursday, December 14th. Morgan Stanley upped their price objective on shares of Zayo Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday. BidaskClub raised shares of Zayo Group from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Barclays reaffirmed a “buy” rating and set a $41.00 price objective on shares of Zayo Group in a research report on Friday, January 19th. Finally, TheStreet raised shares of Zayo Group from a “c” rating to a “b-” rating in a research report on Tuesday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $41.09.
In other Zayo Group news, Director Emily White bought 43,095 shares of the stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $34.99 per share, with a total value of $1,507,894.05. Following the completion of the purchase, the director now owns 3,906 shares in the company, valued at $136,670.94. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Fund X/A Lp Gtcr sold 4,700,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $35.90, for a total value of $168,730,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,992,882 shares of company stock valued at $179,430,128. Insiders own 5.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new position in shares of Zayo Group in the third quarter valued at approximately $1,721,000. Jana Partners LLC increased its stake in shares of Zayo Group by 48.0% in the third quarter. Jana Partners LLC now owns 4,175,993 shares of the technology company’s stock valued at $143,738,000 after buying an additional 1,353,775 shares during the period. California State Teachers Retirement System increased its stake in shares of Zayo Group by 6.4% in the second quarter. California State Teachers Retirement System now owns 345,151 shares of the technology company’s stock valued at $10,665,000 after buying an additional 20,860 shares during the period. Swiss National Bank increased its stake in shares of Zayo Group by 2.1% in the third quarter. Swiss National Bank now owns 806,500 shares of the technology company’s stock valued at $27,760,000 after buying an additional 16,700 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Zayo Group by 46.1% in the third quarter. Brown Advisory Inc. now owns 15,853 shares of the technology company’s stock valued at $546,000 after buying an additional 5,000 shares during the period. 84.71% of the stock is owned by institutional investors.
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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.
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