Uniti Group Inc. (NASDAQ:UNIT - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.71 and traded as high as $5.91. Uniti Group shares last traded at $5.71, with a volume of 2,002,201 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada raised their target price on shares of Uniti Group from $5.50 to $6.00 and gave the stock a "sector perform" rating in a report on Monday, December 23rd.
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Uniti Group Price Performance
The firm's fifty day simple moving average is $5.71 and its 200 day simple moving average is $5.11. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 13.93 and a beta of 1.33.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Uniti Group during the 2nd quarter valued at about $28,000. Ballentine Partners LLC bought a new stake in Uniti Group during the third quarter worth approximately $64,000. Pitcairn Co. acquired a new position in Uniti Group during the third quarter valued at approximately $69,000. Virtu Financial LLC bought a new position in shares of Uniti Group in the third quarter valued at approximately $70,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Uniti Group in the third quarter worth $74,000. 87.51% of the stock is owned by institutional investors and hedge funds.
Uniti Group Company Profile
(
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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.
Further Reading
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