Ronald J. Mudry Sells 28,693 Shares of Uniti Group Inc. (NASDAQ:UNIT) Stock

Uniti Group Inc. (NASDAQ:UNIT) 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 completion of the sale, the senior vice president now directly owns 513,761 shares in the company, valued at $2,024,218.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Uniti Group Stock Performance

Shares of UNIT traded up $0.09 during trading hours on Wednesday, reaching $4.22. The stock had a trading volume of 5,054,626 shares, compared to its average volume of 2,623,350. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.71. The stock has a market capitalization of $1.01 billion, a PE ratio of 71.33 and a beta of 1.29. The company’s 50-day moving average is $3.24 and its two-hundred day moving average is $4.57.

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). Uniti Group had a negative return on equity of 0.37% and a net margin of 0.79%. The firm had revenue of $294.90 million during the quarter, compared to analyst estimates of $289.97 million. During the same period in the previous year, the company earned $0.34 EPS. Uniti Group’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts anticipate that Uniti Group Inc. will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. increased its position 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 valued at $3,399,000 after acquiring an additional 285,112 shares during the period. Jupiter Asset Management Ltd. increased its holdings in Uniti Group by 174.0% in the first quarter. Jupiter Asset Management Ltd. now owns 680,461 shares of the real estate investment trust’s stock valued at $4,015,000 after purchasing an additional 432,158 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Uniti Group by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,858,573 shares of the real estate investment trust’s stock valued at $39,643,000 after purchasing an additional 414,810 shares during the period. DekaBank Deutsche Girozentrale raised its position in Uniti Group by 538.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 685,874 shares of the real estate investment trust’s stock worth $3,978,000 after purchasing an additional 578,371 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in Uniti Group by 554.5% during the 4th quarter. New York Life Investment Management LLC now owns 1,174,712 shares of the real estate investment trust’s stock worth $6,790,000 after buying an additional 995,218 shares during the period. Institutional investors own 87.51% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James cut shares of Uniti Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $8.00 to $6.00 in a report on Monday, May 6th.

Uniti Group Company Profile

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.