Golden State Equity Partners reduced its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 79.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,455 shares of the real estate investment trust's stock after selling 100,000 shares during the period. Golden State Equity Partners' holdings in Uniti Group were worth $144,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in UNIT. Wealth Enhancement Advisory Services LLC boosted its position in shares of Uniti Group by 14.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 22,387 shares of the real estate investment trust's stock worth $126,000 after purchasing an additional 2,852 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Uniti Group during the 3rd quarter valued at approximately $64,000. Everence Capital Management Inc. boosted its stake in shares of Uniti Group by 24.2% during the 3rd quarter. Everence Capital Management Inc. now owns 44,310 shares of the real estate investment trust's stock worth $250,000 after acquiring an additional 8,630 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Uniti Group in the 3rd quarter worth approximately $84,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Uniti Group during the second quarter worth $28,000. Institutional investors and hedge funds own 87.51% of the company's stock.
Insiders Place Their Bets
In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of Uniti Group stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total value of $113,050.42. Following the transaction, the senior vice president now owns 513,761 shares in the company, valued at $2,024,218.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.39% of the company's stock.
Uniti Group Trading Up 4.1 %
Shares of NASDAQ UNIT traded up $0.21 during trading on Friday, reaching $5.28. The company had a trading volume of 1,878,831 shares, compared to its average volume of 2,664,652. The stock has a market capitalization of $1.29 billion, a PE ratio of 268.13 and a beta of 1.29. Uniti Group Inc. has a twelve month low of $2.57 and a twelve month high of $6.71. The stock has a 50-day moving average price of $5.27 and a two-hundred day moving average price of $4.31.
Uniti Group (NASDAQ:UNIT - Get Free Report) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.28). The firm had revenue of $294.90 million during the quarter, compared to analysts' expectations of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. Uniti Group's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. On average, sell-side analysts predict that Uniti Group Inc. will post 1.31 EPS for the current year.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada restated a "sector perform" rating and issued a $5.50 price target on shares of Uniti Group in a research report on Thursday, August 29th.
Check Out Our Latest Stock Report on UNIT
Uniti Group Company Profile
(
Free Report)
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.
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