22NW LP Buys 497,758 Shares of Unifi, Inc. $UFI

Key Points

• 22NW LP significantly increased its investment in Unifi, Inc. by 212.9%, acquiring an additional 497,758 shares and owning a total of 731,535 shares, which now represents 2.7% of their portfolio.
• Institutional investors collectively own 67.67% of Unifi's stock, with several firms like OneDigital Investment Advisors and Northern Trust Corp also increasing their stakes recently.
• Wall Street analysts have downgraded Unifi from a "hold" to a "sell" rating, despite the company recently beating earnings per share expectations even though it fell short on revenue estimates.

22NW LP raised its stake in shares of Unifi, Inc. (NYSE:UFI - Free Report) by 212.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 731,535 shares of the textile maker's stock after purchasing an additional 497,758 shares during the quarter. Unifi makes up about 2.7% of 22NW LP's holdings, making the stock its 13th biggest holding. 22NW LP owned about 3.98% of Unifi worth $3,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Pinnacle Associates Ltd. increased its position in shares of Unifi by 4.8% during the first quarter. Pinnacle Associates Ltd. now owns 1,004,564 shares of the textile maker's stock valued at $4,832,000 after buying an additional 46,401 shares during the period. Minerva Advisors LLC lifted its stake in shares of Unifi by 6.1% in the 1st quarter. Minerva Advisors LLC now owns 907,774 shares of the textile maker's stock valued at $4,366,000 after purchasing an additional 52,533 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Unifi by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 703,151 shares of the textile maker's stock valued at $4,394,000 after purchasing an additional 25,156 shares in the last quarter. Northern Trust Corp grew its stake in Unifi by 22.4% in the fourth quarter. Northern Trust Corp now owns 65,179 shares of the textile maker's stock worth $407,000 after purchasing an additional 11,919 shares during the period. Finally, OneDigital Investment Advisors LLC raised its holdings in Unifi by 53.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 23,000 shares of the textile maker's stock worth $144,000 after purchasing an additional 8,000 shares in the last quarter. 67.67% of the stock is currently owned by institutional investors.

Unifi Stock Down 0.2%

NYSE UFI traded down $0.01 during mid-day trading on Thursday, reaching $4.44. The stock had a trading volume of 33,425 shares, compared to its average volume of 59,679. The stock has a market cap of $81.50 million, a PE ratio of -3.89 and a beta of 0.56. Unifi, Inc. has a 1 year low of $4.25 and a 1 year high of $7.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.32 and a quick ratio of 1.59. The company has a fifty day moving average price of $4.70 and a 200 day moving average price of $4.94.

Unifi (NYSE:UFI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The textile maker reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.24. The firm had revenue of $138.54 million during the quarter, compared to analysts' expectations of $149.84 million. Unifi had a negative return on equity of 19.64% and a negative net margin of 3.56%. On average, research analysts expect that Unifi, Inc. will post -2.25 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Unifi from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th.

About Unifi

Unifi, Inc, together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. Its polyester products include partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns.