Dodge & Cox Slashes Stake in Zayo Group
Investment firm Dodge & Cox disclosed earlier this week it reduced its stake in Zayo Group Holdings Inc. (NYSE:ZAYO) by 84.52%.
Founded in 1930, the San Francisco-based firm takes a classic long-term value approach, steering clear of popular companies that trade at premium prices. Rather, it conducts in-depth research into companies trading at low valuations that have strong earnings and cash flow growth prospects.
According to GuruFocus Real-Time Picks, a Premium feature, the firm sold 22.6 million shares of the Boulder, Colorado-based company on Sept. 30, bringing its total holding down to 4.15 million shares, which represent 0.11% of the equity portfolio. The stock traded for an average price of $33.90 per share.
GuruFocus estimates the firm has gained nearly 5% on the investment s ...