Point Break Capital Management LLC bought a new stake in shares of Zayo Group Holdings Inc (NYSE:ZAYO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 432,053 shares of the technology company’s stock, valued at approximately $9,868,000. Zayo Group accounts for approximately 2.8% of Point Break Capital Management LLC’s portfolio, making the stock its 2nd largest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Shellback Capital LP bought a new stake in shares of Zayo Group in the 4th quarter worth $11,372,000. MFN Partners Management LP bought a new stake in shares of Zayo Group in the 4th quarter worth $15,573,000. Nomura Holdings Inc. grew its stake in shares of Zayo Group by 618.1% in the 4th quarter. Nomura Holdings Inc. now owns 70,520 shares of the technology company’s stock worth $1,603,000 after acquiring an additional 60,700 shares in the last quarter. Marlowe Partners LP grew its stake in shares of Zayo Group by 68.1% in the 4th quarter. Marlowe Partners LP now owns 1,274,261 shares of the technology company’s stock worth $29,104,000 after acquiring an additional 516,312 shares in the last quarter. Finally, American International Group Inc. grew its stake in shares of Zayo Group by 14.1% in the 4th quarter. American International Group Inc. now owns 5,484 shares of the technology company’s stock worth $125,000 after acquiring an additional 676 shares in the last quarter. Institutional investors own 96.78% of the company’s stock.

Several analysts have recently issued reports on ZAYO shares. Zacks Investment Research upgraded shares of Zayo Group from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Monday, February 11th. Deutsche Bank upped their target price on shares of Zayo Group from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. Craig Hallum started coverage on shares of Zayo Group in a research note on Wednesday, January 23rd. They issued a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Zayo Group from a “neutral” rating to an “overweight” rating and set a $25.48 target price for the company in a research note on Wednesday, November 28th. Finally, ValuEngine lowered shares of Zayo Group from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $35.32.

In related news, CFO Matt Steinfort sold 6,142 shares of the stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $24.16, for a total transaction of $148,390.72. Following the completion of the transaction, the chief financial officer now owns 22,896 shares in the company, valued at $553,167.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO John F. Jr. Waters sold 5,548 shares of the stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $24.16, for a total transaction of $134,039.68. Following the transaction, the chief technology officer now owns 87,309 shares of the company’s stock, valued at approximately $2,109,385.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,144 shares of company stock valued at $390,039. 4.50% of the stock is owned by company insiders.

ZAYO opened at $27.89 on Friday. The stock has a market cap of $6.55 billion, a P/E ratio of 45.72, a P/E/G ratio of 9.79 and a beta of 0.87. The company has a debt-to-equity ratio of 5.13, a current ratio of 0.85 and a quick ratio of 0.85. Zayo Group Holdings Inc has a fifty-two week low of $20.27 and a fifty-two week high of $39.66.

Zayo Group (NYSE:ZAYO) last posted its quarterly earnings results on Thursday, February 7th. The technology company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The company had revenue of $639.10 million for the quarter, compared to the consensus estimate of $641.73 million. Zayo Group had a net margin of 4.62% and a return on equity of 8.29%. Zayo Group’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. Analysts predict that Zayo Group Holdings Inc will post 0.58 earnings per share for the current year.

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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.

See Also: Understanding Price to Earnings Ratio (PE)

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

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