Uniti Group Inc. (NASDAQ:UNIT) SVP Sells $113,050.42 in Stock

Uniti Group Inc. (NASDAQ:UNIT) SVP Ronald J. Mudry sold 28,693 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total value of $113,050.42. Following the sale, the senior vice president now owns 513,761 shares in the company, valued at $2,024,218.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Uniti Group Stock Down 2.6 %

Shares of UNIT traded down $0.11 during trading on Friday, reaching $4.12. The company’s stock had a trading volume of 5,525,328 shares, compared to its average volume of 2,652,379. The company has a market cap of $989.86 million, a price-to-earnings ratio of 68.67 and a beta of 1.29. The company has a fifty day moving average of $3.29 and a two-hundred day moving average of $4.57. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71.

Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.28). The company had revenue of $294.90 million during the quarter, compared to analyst estimates of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, equities analysts forecast that Uniti Group Inc. will post 1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered shares of Uniti Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $8.00 to $6.00 in a research note on Monday, May 6th.

Hedge Funds Weigh In On Uniti Group

Several large investors have recently modified their holdings of UNIT. Norges Bank acquired a new position in Uniti Group in the fourth quarter worth $9,139,000. New York Life Investment Management LLC grew its position in shares of Uniti Group by 554.5% during the 4th quarter. New York Life Investment Management LLC now owns 1,174,712 shares of the real estate investment trust’s stock valued at $6,790,000 after buying an additional 995,218 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Uniti Group by 538.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 685,874 shares of the real estate investment trust’s stock worth $3,978,000 after acquiring an additional 578,371 shares during the period. Vanguard Group Inc. lifted its holdings in Uniti Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 38,442,169 shares of the real estate investment trust’s stock worth $226,809,000 after acquiring an additional 542,485 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in Uniti Group by 352.0% in the second quarter. Strategic Financial Concepts LLC now owns 653,203 shares of the real estate investment trust’s stock valued at $1,907,000 after acquiring an additional 508,699 shares during the period. Institutional investors own 87.51% of the company’s stock.

Uniti Group Company Profile

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.