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Stock in the News: Zayo Group Holdings Inc. (NYSE: ZAYO)

On Friday, Shares of Zayo Group Holdings Inc. (NYSE: ZAYO) showed the bearish trend with a lower momentum of -0.13% to $31.71. The company traded total volume of 5,843,380 shares as contrast to its average volume of 5.44M shares. The company has a market value of $7.48B and about 235.76M shares outstanding.

Zayo Group Holdings, Inc. (“Zayo” or “the Company”) (ZAYO), a global leader in Communications Infrastructure, declared results for the three months ended December 31, 2018.

Second quarter net income increased $8.10M over the previous quarter. Basic and diluted net income per share during the second fiscal quarter was $0.13. During the three months ended December 31, 2018, capital expenditures were $202.20M.

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As of December 31, 2018, the Company had $176.40M of cash and $231.80M available under its revolving credit facility.

Recent Developments:

Share Repurchases and Revolving Credit Facility Borrowings

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Under the Company’s share repurchase authorization, during the three months ended December 31, 2018, the Company repurchased 12,967,663 shares of its outstanding common stock at an average price of $31.02, or $402.30M. The share repurchase authorization expired on November 7, 2018, with the Company having repurchased $496.00M under the authorization. The share repurchases were partially funded by an aggregate amount of $250.00M of borrowings under the Company’s revolving credit facility during the quarter. The Company paid down $40.00M on the revolving credit facility in December, resulting in $231.80M in availability under the revolving credit facility as of December 31, 2018.

In January 2019, the Company borrowed $25.00M under the Revolver and subsequently repaid $25.00M, leaving $231.80M available under the Revolver.

The Company offered net profit margin of 4.60% while its gross profit margin was 64.30%. ROE was recorded as 8.30% while beta factor was 0.91. The stock, as of recent close, has shown the weekly upbeat performance of 3.02% which was maintained at 38.84% in this year.

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