Investors Purchase High Volume of Uniti Group Put Options (NASDAQ:UNIT)

Uniti Group Inc. (NASDAQ:UNIT) was the target of some unusual options trading on Monday. Stock traders purchased 7,771 put options on the stock. This is an increase of 258% compared to the average volume of 2,170 put options.

Insider Activity at Uniti Group

In other 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 transaction, the senior vice president now directly owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of Uniti Group by 22.4% during the fourth quarter. Victory Capital Management Inc. now owns 49,420 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 9,032 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 acquiring an additional 414,810 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Uniti Group by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,102 shares of the real estate investment trust’s stock valued at $870,000 after acquiring an additional 7,395 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in Uniti Group in the fourth quarter valued at approximately $2,766,000. Finally, Norges Bank acquired a new stake in Uniti Group in the fourth quarter valued at approximately $9,139,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Uniti Group Trading Down 3.1 %

Shares of NASDAQ UNIT opened at $5.35 on Tuesday. Uniti Group has a 12 month low of $2.57 and a 12 month high of $6.71. The company has a 50 day simple moving average of $4.19 and a two-hundred day simple moving average of $4.42. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 89.17 and a beta of 1.28.

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 analyst estimates of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Analysts forecast that Uniti Group will post 1.31 EPS for the current year.

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.