Westfield Capital Management Co. LP increased its stake in Zayo Group Holdings, Inc. (NYSE:ZAYO) by 17.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 716,929 shares of the technology company’s stock after buying an additional 107,529 shares during the quarter. Westfield Capital Management Co. LP owned about 0.29% of Zayo Group worth $24,677,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of ZAYO. Thompson Davis & CO. Inc. lifted its position in shares of Zayo Group by 2,600.0% during the third quarter. Thompson Davis & CO. Inc. now owns 3,375 shares of the technology company’s stock worth $116,000 after purchasing an additional 3,250 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Zayo Group during the second quarter worth $142,000. Rehmann Capital Advisory Group bought a new stake in shares of Zayo Group during the third quarter worth $212,000. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Zayo Group by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,434 shares of the technology company’s stock worth $230,000 after purchasing an additional 122 shares during the last quarter. Finally, Cadence Capital Management LLC bought a new stake in shares of Zayo Group during the third quarter worth $232,000. Institutional investors own 84.11% of the company’s stock.
In related news, major shareholder Fund X/C Lp Gtcr sold 4,700,000 shares of Zayo Group stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.35, for a total value of $161,445,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matt Steinfort sold 812 shares of Zayo Group stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $34.95, for a total value of $28,379.40. The disclosure for this sale can be found here. Insiders sold 9,637,348 shares of company stock valued at $338,372,529 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.
ZAYO has been the subject of several research analyst reports. TheStreet upgraded Zayo Group from a “c” rating to a “b-” rating in a research report on Tuesday, October 17th. Oppenheimer reiterated a “buy” rating and set a $42.00 target price on shares of Zayo Group in a research report on Wednesday, September 13th. Stifel Nicolaus reiterated a “buy” rating on shares of Zayo Group in a research report on Tuesday, August 22nd. Cowen reiterated a “buy” rating on shares of Zayo Group in a research report on Friday, August 11th. Finally, UBS initiated coverage on Zayo Group in a research report on Tuesday, October 17th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.46.
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Zayo Group Profile
Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.
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