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 business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total transaction of $113,050.42. Following the completion of the transaction, the senior vice president now directly owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Uniti Group Stock Down 2.6 %

Shares of Uniti Group stock traded down $0.11 during midday trading on Friday, hitting $4.12. The company had a trading volume of 5,525,328 shares, compared to its average volume of 2,652,379. The company has a fifty day simple moving average of $3.29 and a 200 day simple moving average of $4.57. The stock has a market cap of $989.86 million, a price-to-earnings ratio of 68.67 and a beta of 1.29. Uniti Group Inc. has a 12-month low of $2.57 and a 12-month high of $6.71.

Uniti Group (NASDAQ:UNIT) last issued 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 negative return on equity of 0.37% and a net margin of 0.79%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. As a group, analysts expect that Uniti Group Inc. will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Uniti Group

A number of institutional investors and hedge funds have recently modified their holdings of UNIT. GAMMA Investing LLC acquired a new stake in Uniti Group during the 4th quarter valued at approximately $31,000. Meeder Advisory Services Inc. acquired a new position in Uniti Group during the second quarter valued at $36,000. Everhart Financial Group Inc. purchased a new stake in Uniti Group in the second quarter valued at $41,000. Choreo LLC acquired a new stake in Uniti Group during the 2nd quarter worth about $41,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Uniti Group by 138.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,194 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 12,291 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Uniti Group

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.