2 weeks Ago By ABMN Staff
Shares of Uniti Group Inc. ( NASDAQ:UNIT – Get Free Report ) shot up 6.4% on Friday .
The stock traded as high as $5.78 and last traded at $5.78.
907,305 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 2,717,861 shares. The stock had previously closed at $5.43.
Wall Street Analysts Forecast Growth Separately, Royal Bank of Canada reissued a “sector perform” rating and set 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 Uniti Group Uniti Group Price Performance Uniti Group ( NASDAQ:UNIT – Get Free Report ) last announced its quarterly 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 company 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%. The company’s revenue was up 3.9% compared to the same quarter last year.
During the same quarter in the prior year, the business posted $0.34 earnings per share. Equities research analysts forecast that Uniti Group Inc.
will post 1.31 EPS for the current fiscal year. Insiders Place Their Bets In other news, SVP Ronald J.
Mudry sold 28,693 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total value of $113,050.
42. Following the sale, the senior vice president now directly owns 513,761 shares in the company, valued at approximately $2,024,218.34.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link . 1.39% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Uniti Group Large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Uniti Group during the 4th quarter valued at about $9,139,000. Nomura Asset Management Co.
Ltd. raised its position in shares of Uniti Group by 1.6% in the 4th quarter.
Nomura Asset Management Co. Ltd. now owns 270,300 shares of the real estate investment trust’s stock valued at $1,562,000 after purchasing an additional 4,200 shares during the last quarter.
Nomura Holdings Inc. boosted its stake in Uniti Group by 94.1% in the 4th quarter.
Nomura Holdings Inc. now owns 588,078 shares of the real estate investment trust’s stock worth $3,399,000 after purchasing an additional 285,112 shares in the last quarter. GAMMA Investing LLC boosted its stake in Uniti Group by 49.
8% in the 1st quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 2,960 shares in the last quarter. Finally, Diversified Trust Co grew its position in Uniti Group by 66.
0% during the 1st quarter. Diversified Trust Co now owns 72,155 shares of the real estate investment trust’s stock worth $426,000 after purchasing an additional 28,697 shares during the last quarter. 87.
51% of the stock is owned by institutional investors and hedge funds. About Uniti Group ( Get 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. Featured Stories Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter .
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