Manning & Napier Group LLC Purchase 53,215 Shares of Zayo Group Stake Inc (ZAYO)

Manning & Napier Group LLC Purchase 53,215 Shares of Zayo Group Stake Inc (ZAYO)

Manning & Napier Group LLC boosted its position in Zayo Group Holdings Inc (NYSE:ZAYO) by 1.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,896,602 shares of the technology company’s stock after buying an additional 53,215 shares during the quarter. Zayo Group makes up about 1.3% of Manning & Napier Group LLC’s holdings, making the stock its 20th largest position. Manning & Napier Group LLC owned about 1.58% of Zayo Group worth $135,288,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Carillon Tower Advisers Inc. boosted its holdings in shares of Zayo Group by 19.6% in the second quarter. Carillon Tower Advisers Inc. now owns 838,172 shares of the technology company’s stock worth $30,576,000 after acquiring an additional 137,166 shares during the period. Tyers Asset Management LLC boosted its holdings in shares of Zayo Group by 26.7% in the second quarter. Tyers Asset Management LLC now owns 27,664 shares of the technology company’s stock worth $1,009,000 after acquiring an additional 5,824 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Zayo Group by 11.0% in the first quarter. JPMorgan Chase & Co. now owns 15,661 shares of the technology company’s stock worth $535,000 after acquiring an additional 1,548 shares during the period. BlackRock Inc. boosted its holdings in shares of Zayo Group by 11.8% in the second quarter. BlackRock Inc. now owns 13,288,927 shares of the technology company’s stock worth $484,781,000 after acquiring an additional 1,401,301 shares during the period. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Zayo Group by 29.1% in the second quarter. State of Wisconsin Investment Board now owns 218,827 shares of the technology company’s stock worth $7,983,000 after acquiring an additional 49,375 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

NYSE:ZAYO traded down $0.21 during trading hours on Wednesday, hitting $32.62. 34,639 shares of the company’s stock traded hands, compared to its average volume of 2,428,586. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 53.51, a P/E/G ratio of 12.86 and a beta of 0.43. Zayo Group Holdings Inc has a 52 week low of $32.56 and a 52 week high of $39.66. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.02 and a current ratio of 1.02.

Zayo Group (NYSE:ZAYO) last posted its quarterly earnings data on Wednesday, August 22nd. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.09. The company had revenue of $657.60 million during the quarter, compared to analyst estimates of $655.78 million. Zayo Group had a return on equity of 9.97% and a net margin of 3.91%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. Equities analysts forecast that Zayo Group Holdings Inc will post 0.54 earnings per share for the current fiscal year.

In other Zayo Group news, Director Richard W. Connor sold 1,038 shares of Zayo Group stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $33.95, for a total transaction of $35,240.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Caruso sold 265,866 shares of Zayo Group stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $37.61, for a total value of $9,999,220.26. Following the sale, the chief executive officer now directly owns 471,851 shares of the company’s stock, valued at approximately $17,746,316.11. The disclosure for this sale can be found here. Insiders have sold 272,171 shares of company stock valued at $10,214,201 in the last three months. 4.50% of the stock is owned by corporate insiders.

ZAYO has been the subject of a number of analyst reports. ValuEngine raised Zayo Group from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Jefferies Financial Group started coverage on Zayo Group in a research note on Tuesday, September 4th. They set a “buy” rating and a $49.00 price objective for the company. Zacks Investment Research lowered Zayo Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 8th. William Blair reissued an “outperform” rating on shares of Zayo Group in a research note on Thursday, August 23rd. Finally, TheStreet raised Zayo Group from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. Zayo Group currently has an average rating of “Buy” and an average target price of $43.22.

About Zayo Group

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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