Pinnacle Associates Ltd. Sells 105,974 Shares of Unifi, Inc. (NYSE:UFI)

Pinnacle Associates Ltd. reduced its stake in Unifi, Inc. (NYSE:UFI - Free Report) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 793,797 shares of the textile maker's stock after selling 105,974 shares during the period. Pinnacle Associates Ltd. owned about 4.35% of Unifi worth $5,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC boosted its position in Unifi by 24.9% during the 1st quarter. Virtu Financial LLC now owns 15,818 shares of the textile maker's stock worth $95,000 after buying an additional 3,158 shares during the period. Empowered Funds LLC lifted its holdings in shares of Unifi by 8.0% during the first quarter. Empowered Funds LLC now owns 32,222 shares of the textile maker's stock worth $193,000 after purchasing an additional 2,384 shares during the period. Factorial Partners LLC bought a new stake in shares of Unifi in the second quarter worth $103,000. Acuitas Investments LLC increased its holdings in Unifi by 20.4% in the second quarter. Acuitas Investments LLC now owns 404,356 shares of the textile maker's stock valued at $2,382,000 after purchasing an additional 68,605 shares during the period. Finally, Marshall Wace LLP raised its position in Unifi by 10.6% during the 2nd quarter. Marshall Wace LLP now owns 80,172 shares of the textile maker's stock worth $472,000 after purchasing an additional 7,679 shares during the last quarter. 67.67% of the stock is currently owned by institutional investors and hedge funds.

Unifi Trading Down 11.0 %

Shares of UFI stock traded down $0.76 on Thursday, hitting $6.12. The company had a trading volume of 176,333 shares, compared to its average volume of 65,751. The stock's 50-day moving average is $6.95 and its two-hundred day moving average is $6.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.54 and a current ratio of 3.25. The firm has a market cap of $111.69 million, a P/E ratio of -2.29, a P/E/G ratio of 12.67 and a beta of 0.80. Unifi, Inc. has a twelve month low of $5.41 and a twelve month high of $7.91.

Unifi (NYSE:UFI - Get Free Report) last announced its earnings results on Wednesday, August 21st. The textile maker reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. Unifi had a negative net margin of 8.14% and a negative return on equity of 14.87%. The business had revenue of $157.45 million during the quarter, compared to the consensus estimate of $156.69 million. During the same quarter last year, the firm earned ($0.39) earnings per share. On average, equities research analysts anticipate that Unifi, Inc. will post 0.03 earnings per share for the current fiscal year.

Unifi Profile

Unifi, Inc, together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. Its polyester products include partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns.