Harbourvest Partners Lowers stake in Zayo Group Holdings Inc (ZAYO)

Zayo Group Holdings Inc (ZAYO) : Harbourvest Partners reduced its stake in Zayo Group Holdings Inc by 89.51% during the most recent quarter end. The investment management company now holds a total of 56,099 shares of Zayo Group Holdings Inc which is valued at $1,598,261 after selling 478,768 shares in Zayo Group Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Zayo Group Holdings Inc makes up approximately 0.71% of Harbourvest Partners’s portfolio.

Other Hedge Funds, Including , Fred Alger Management Inc boosted its stake in ZAYO in the latest quarter, The investment management firm added 68,554 additional shares and now holds a total of 108,134 shares of Zayo Group Holdings Inc which is valued at $3,080,738. Zayo Group Holdings Inc makes up approx 0.02% of Fred Alger Management Inc’s portfolio. Renaissance Technologies added ZAYO to its portfolio by purchasing 42,900 company shares during the most recent quarter which is valued at $1,222,221.New York State Common Retirement Fund boosted its stake in ZAYO in the latest quarter, The investment management firm added 62,500 additional shares and now holds a total of 389,700 shares of Zayo Group Holdings Inc which is valued at $11,102,553. Zayo Group Holdings Inc makes up approx 0.02% of New York State Common Retirement Fund’s portfolio.Reaves W H Co Inc boosted its stake in ZAYO in the latest quarter, The investment management firm added 115,075 additional shares and now holds a total of 187,475 shares of Zayo Group Holdings Inc which is valued at $5,346,787. Zayo Group Holdings Inc makes up approx 0.19% of Reaves W H Co Inc’s portfolio.

Zayo Group Holdings Inc opened for trading at $29.1 and hit $29.25 on the upside on Thursday, eventually ending the session at $29.09, with a gain of 0.28% or 0.08 points. The heightened volatility saw the trading volume jump to 33,71,195 shares. Company has a market cap of $7,059 M.

On the company’s financial health, Zayo Group Holdings Inc reported $-0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.01. The company had revenue of $478.00 million for the quarter, compared to analysts expectations of $465.40 million. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Zayo Group Holdings Inc. Zayo Group Holdings Inc was Initiated by Pacific Crest to “Sector Weight” on Jul 25, 2016.

Zayo Group Holdings Inc. is a provider of bandwidth infrastructure in the United States and Europe. The Company’s products include leased dark fiber fiber to cellular towers and small cell sites dedicated wavelength connections Ethernet and Internet protocol (IP) connectivity and other high-bandwidth offerings. Its products and services include physical infrastructure and cloud and connectivity. It operates through three segments: Physical Infrastructure Cloud and Connectivity and Other. Its bandwidth infrastructure assets consist of fiber networks the optronic equipment used to provide its lit services over its fiber networks and its datacenters where it provides colocation and interconnection services. The Company through metro fiber networks provides bandwidth infrastructure services within the metro markets that it serves. The Company through regional fiber networks provides bandwidth infrastructure services between the metro markets that it serves.

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