California Public Employees Retirement System Has $11.02 Million Holdings in Zayo Group Holdings Inc (NYSE:ZAYO)

California Public Employees Retirement System decreased its holdings in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 65.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 387,753 shares of the technology company’s stock after selling 734,819 shares during the period. California Public Employees Retirement System owned about 0.17% of Zayo Group worth $11,020,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its stake in shares of Zayo Group by 0.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 283,811 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 2,610 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Zayo Group by 1,956.2% in the first quarter. Gamco Investors INC. ET AL now owns 308,430 shares of the technology company’s stock worth $8,766,000 after acquiring an additional 293,430 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Zayo Group by 74.5% in the first quarter. Gabelli Funds LLC now owns 140,500 shares of the technology company’s stock valued at $3,993,000 after purchasing an additional 60,000 shares during the period. Rhumbline Advisers grew its position in shares of Zayo Group by 0.6% in the first quarter. Rhumbline Advisers now owns 218,333 shares of the technology company’s stock valued at $6,205,000 after purchasing an additional 1,225 shares during the period. Finally, HL Financial Services LLC purchased a new stake in shares of Zayo Group in the first quarter valued at $245,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Zayo Group stock traded down $0.04 during mid-day trading on Friday, hitting $32.60. 2,586,400 shares of the company’s stock were exchanged, compared to its average volume of 5,807,621. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 53.44, a PEG ratio of 13.16 and a beta of 0.82. Zayo Group Holdings Inc has a 1-year low of $20.27 and a 1-year high of $39.66. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.83 and a quick ratio of 0.83.

Zayo Group (NYSE:ZAYO) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Zayo Group had a net margin of 5.06% and a return on equity of 9.56%. The business had revenue of $647.20 million during the quarter, compared to analyst estimates of $639.98 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zayo Group Holdings Inc will post 0.5 earnings per share for the current year.

A number of brokerages have recently commented on ZAYO. Craig Hallum downgraded Zayo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. William Blair lowered shares of Zayo Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 9th. Raymond James lowered shares of Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 price objective on the stock. in a research report on Wednesday, May 22nd. Wells Fargo & Co lowered shares of Zayo Group from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $34.00 to $35.00 in a research report on Wednesday, May 8th. Finally, Cowen lowered shares of Zayo Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $37.00 to $35.00 in a research report on Wednesday, May 15th. Thirteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $35.02.

In other news, insider Sandra Mays sold 2,745 shares of Zayo Group stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $28.04, for a total value of $76,969.80. Following the completion of the transaction, the insider now owns 47,395 shares in the company, valued at $1,328,955.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Caruso sold 655,585 shares of Zayo Group stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $32.76, for a total transaction of $21,476,964.60. Following the completion of the transaction, the chief executive officer now owns 380,547 shares of the company’s stock, valued at approximately $12,466,719.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 987,834 shares of company stock valued at $32,314,474. Corporate insiders own 4.50% of the company’s stock.

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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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Institutional Ownership by Quarter for Zayo Group (NYSE:ZAYO)

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