MYDA Advisors LLC cut its stake in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 41.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 640,000 shares of the real estate investment trust's stock after selling 450,000 shares during the quarter. MYDA Advisors LLC owned about 0.26% of Uniti Group worth $3,520,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in Uniti Group by 51.3% during the fourth quarter. Signaturefd LLC now owns 8,460 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 2,870 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Uniti Group in the 4th quarter valued at about $68,000. Virtu Financial LLC bought a new stake in shares of Uniti Group during the 3rd quarter valued at about $70,000. Handelsbanken Fonder AB purchased a new position in shares of Uniti Group during the fourth quarter worth about $71,000. Finally, Diversified Trust Co bought a new position in shares of Uniti Group in the fourth quarter worth approximately $74,000. 87.51% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Raymond James upgraded shares of Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $6.00 to $8.00 in a research report on Monday, February 24th.
Get Our Latest Stock Report on Uniti Group
Uniti Group Stock Performance
UNIT traded up $0.05 during trading on Wednesday, reaching $4.70. The stock had a trading volume of 1,993,118 shares, compared to its average volume of 2,734,899. The business has a 50-day moving average of $5.04 and a 200-day moving average of $5.43. Uniti Group Inc. has a one year low of $2.57 and a one year high of $6.31. The stock has a market cap of $1.15 billion, a PE ratio of 11.46 and a beta of 1.57.
Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The firm had revenue of $293.32 million during the quarter, compared to analysts' expectations of $294.59 million. Uniti Group had a negative return on equity of 4.12% and a net margin of 8.82%. Equities research analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.
Uniti Group Profile
(
Free Report)
Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.
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