Wells Fargo & Company MN Purchases 311,759 Shares of Zayo Group Holdings Inc (ZAYO)
Wells Fargo & Company MN increased its position in Zayo Group Holdings Inc (NYSE:ZAYO) by 33.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,231,735 shares of the technology company’s stock after purchasing an additional 311,759 shares during the period. Wells Fargo & Company MN owned approximately 0.50% of Zayo Group worth $44,934,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Thompson Davis & CO. Inc. lifted its stake in Zayo Group by 60.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock valued at $171,000 after acquiring an additional 1,875 shares in the last quarter. Cerebellum GP LLC lifted its stake in Zayo Group by 56.5% during the 2nd quarter. Cerebellum GP LLC now owns 5,048 shares of the technology company’s stock valued at $184,000 after acquiring an additional 1,822 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in Zayo Group during the 1st quarter valued at $212,000. D.A. Davidson & CO. bought a new position in Zayo Group during the 1st quarter valued at $258,000. Finally, IFM Investors Pty Ltd bought a new position in Zayo Group during the 2nd quarter valued at $275,000. Institutional investors own 87.50% of the company’s stock.
Several equities analysts have weighed in on ZAYO shares. ValuEngine upgraded Zayo Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Bank of America started coverage on Zayo Group in a research note on Friday, May 18th. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Zacks Investment Research restated a “hold” rating on shares of Zayo Group in a research note on Saturday, April 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $42.40.
Shares of NYSE:ZAYO opened at $37.85 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.77. Zayo Group Holdings Inc has a 1-year low of $32.65 and a 1-year high of $39.66. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 94.63, a P/E/G ratio of 15.59 and a beta of 0.48.
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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