Uniti Group Sees Unusually Large Options Volume (NASDAQ:UNIT)

Uniti Group Inc. (NASDAQ:UNIT) was the target of unusually large options trading activity on Thursday. Investors bought 7,872 call options on the stock. This is an increase of approximately 293% compared to the typical daily volume of 2,003 call options.

Uniti Group Stock Down 0.4 %

Shares of UNIT opened at $5.26 on Friday. The business’s 50-day moving average price is $3.85 and its 200-day moving average price is $4.45. Uniti Group has a twelve month low of $2.57 and a twelve month high of $6.71. The stock has a market cap of $1.26 billion, a PE ratio of 87.67 and a beta of 1.29.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Analysts expect that Uniti Group will post 1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the stock in a transaction 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 $2,024,218.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Uniti Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its holdings in shares of Uniti Group by 9.6% in the 2nd quarter. Mackenzie Financial Corp now owns 30,923 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 2,711 shares during the last quarter. Texas Permanent School Fund Corp raised its position in Uniti Group by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 208,133 shares of the real estate investment trust’s stock valued at $1,228,000 after purchasing an additional 2,938 shares in the last quarter. GAMMA Investing LLC lifted its stake in Uniti Group by 49.8% during the first 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 during the last quarter. Hancock Whitney Corp lifted its stake in Uniti Group by 4.5% during the first quarter. Hancock Whitney Corp now owns 76,360 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 3,254 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Uniti Group by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 48,051 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 3,339 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.50 price objective on shares of Uniti Group in a report on Thursday, August 29th.

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.