Pictet Asset Management Ltd. trimmed its holdings in shares of Zayo Group Holdings Inc (NYSE:ZAYO) by 24.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,402 shares of the technology company’s stock after selling 19,310 shares during the period. Pictet Asset Management Ltd.’s holdings in Zayo Group were worth $1,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Elo Mutual Pension Insurance Co acquired a new position in shares of Zayo Group during the second quarter valued at $9,544,000. Vertex One Asset Management Inc. acquired a new position in Zayo Group during the second quarter worth about $6,492,000. Athos Capital Ltd acquired a new position in Zayo Group during the second quarter worth about $3,356,000. Northern Trust Corp grew its holdings in Zayo Group by 2.8% during the second quarter. Northern Trust Corp now owns 1,325,245 shares of the technology company’s stock worth $43,613,000 after acquiring an additional 36,270 shares during the period. Finally, RVB Capital Management LLC acquired a new position in Zayo Group during the second quarter worth about $823,000. 87.61% of the stock is currently owned by institutional investors.

ZAYO has been the topic of a number of research analyst reports. ValuEngine lowered Zayo Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Raymond James lowered Zayo Group from an “outperform” rating to a “market perform” rating and set a $32.74 target price on the stock. in a report on Wednesday, May 22nd. Thirteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $33.85.

In related news, COO John F. Jr. Waters sold 15,331 shares of Zayo Group stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $33.05, for a total value of $506,689.55. Following the transaction, the chief operating officer now owns 119,096 shares of the company’s stock, valued at approximately $3,936,122.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sandra Mays sold 3,395 shares of Zayo Group stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $33.05, for a total value of $112,204.75. Following the completion of the transaction, the insider now directly owns 55,764 shares in the company, valued at approximately $1,843,000.20. The disclosure for this sale can be found here. Insiders sold a total of 1,054,248 shares of company stock worth $35,593,455 in the last three months. 4.50% of the stock is currently owned by company insiders.

ZAYO traded up $0.07 during trading on Thursday, reaching $33.90. The company had a trading volume of 3,883,570 shares, compared to its average volume of 4,184,446. The firm’s 50-day simple moving average is $33.77 and its 200 day simple moving average is $31.96. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 54.68, a PEG ratio of 9.08 and a beta of 0.77. Zayo Group Holdings Inc has a 12-month low of $20.27 and a 12-month high of $35.68. The company has a debt-to-equity ratio of 4.48, a quick ratio of 0.75 and a current ratio of 0.75.

Zayo Group (NYSE:ZAYO) last issued its quarterly earnings results on Wednesday, August 21st. The technology company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.11. The firm had revenue of $650.60 million for the quarter, compared to analysts’ expectations of $642.86 million. Zayo Group had a return on equity of 11.27% and a net margin of 5.82%. Zayo Group’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. On average, sell-side analysts expect that Zayo Group Holdings Inc will post 0.75 EPS for the current 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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Institutional Ownership by Quarter for Zayo Group (NYSE:ZAYO)

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