Zayo Group Holdings Inc (NYSE:ZAYO) Sees Significant Decrease in Short Interest

Zayo Group Holdings Inc (NYSE:ZAYO) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 16,606,200 shares, a drop of 6.4% from the May 15th total of 17,750,100 shares. Currently, 7.4% of the company’s shares are sold short. Based on an average daily volume of 5,930,000 shares, the days-to-cover ratio is currently 2.8 days.

In other Zayo Group news, COO John F. Jr. Waters sold 15,331 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $33.05, for a total transaction of $506,689.55. Following the completion of the sale, the chief operating officer now directly owns 119,096 shares in the company, valued at approximately $3,936,122.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Caruso sold 655,585 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $32.76, for a total value of $21,476,964.60. Following the sale, the chief executive officer now owns 380,547 shares of the company’s stock, valued at $12,466,719.72. The disclosure for this sale can be found here. Insiders sold a total of 1,437,607 shares of company stock valued at $47,051,887 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC increased its stake in shares of Zayo Group by 138.5% during the first quarter. Advisory Services Network LLC now owns 992 shares of the technology company’s stock worth $28,000 after purchasing an additional 576 shares during the period. Truvestments Capital LLC bought a new position in shares of Zayo Group during the first quarter worth approximately $53,000. Strs Ohio increased its stake in shares of Zayo Group by 28.0% during the first quarter. Strs Ohio now owns 2,763 shares of the technology company’s stock worth $78,000 after purchasing an additional 604 shares during the period. Ffcm LLC grew its position in Zayo Group by 104.3% during the fourth quarter. Ffcm LLC now owns 2,832 shares of the technology company’s stock worth $65,000 after buying an additional 1,446 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Zayo Group during the first quarter worth approximately $90,000. Institutional investors own 92.66% of the company’s stock.

ZAYO has been the subject of a number of recent research reports. UBS Group raised their price target on Zayo Group from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. SunTrust Banks raised their price target on Perrigo to $51.00 and gave the stock a “hold” rating in a research note on Monday, May 20th. Citigroup set a $6.00 price target on Solid Biosciences and gave the stock a “hold” rating in a research note on Thursday, May 16th. Craig Hallum downgraded Zayo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a research note on Wednesday, May 15th. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $35.02.

NYSE:ZAYO traded down $0.05 on Friday, hitting $33.54. The company’s stock had a trading volume of 1,087,266 shares, compared to its average volume of 1,958,723. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 54.98, a P/E/G ratio of 10.22 and a beta of 0.77. 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 has a one year low of $20.27 and a one year high of $38.23. The firm has a fifty day moving average of $33.00.

Zayo Group (NYSE:ZAYO) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). The firm had revenue of $647.20 million for the quarter, compared to the consensus estimate of $639.98 million. Zayo Group had a return on equity of 9.56% and a net margin of 5.06%. Zayo Group’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, equities research analysts anticipate that Zayo Group will post 0.5 EPS for the current fiscal year.

Zayo Group Company 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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