MYDA Advisors LLC Sells 390,000 Shares of Uniti Group Inc. $UNIT

Key Points

• MYDA Advisors LLC has decreased its stake in Uniti Group Inc. by 60.9%, holding 250,000 shares after selling 390,000 shares in the first quarter.
• Uniti Group's stock is currently valued at $6.63 with a market cap of approximately $981.13 million, showing a 2.2% increase in its latest trading session.
• The company reported earnings of $0.36 per share for the last quarter, falling short of the consensus estimate of $0.42.

MYDA Advisors LLC lowered its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 60.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,000 shares of the real estate investment trust's stock after selling 390,000 shares during the quarter. MYDA Advisors LLC owned 0.10% of Uniti Group worth $1,260,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC grew its holdings in Uniti Group by 65.1% during the first quarter. Ieq Capital LLC now owns 48,208 shares of the real estate investment trust's stock valued at $243,000 after purchasing an additional 19,007 shares during the period. Jump Financial LLC acquired a new position in Uniti Group during the first quarter valued at approximately $383,000. American Century Companies Inc. acquired a new position in Uniti Group during the first quarter valued at approximately $65,000. Neuberger Berman Group LLC lifted its stake in Uniti Group by 83.9% in the first quarter. Neuberger Berman Group LLC now owns 31,350 shares of the real estate investment trust's stock valued at $158,000 after buying an additional 14,301 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Uniti Group by 457.8% in the first quarter. Russell Investments Group Ltd. now owns 127,265 shares of the real estate investment trust's stock valued at $641,000 after buying an additional 104,451 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

Uniti Group Stock Down 4.4%

UNIT traded down $0.29 during trading hours on Friday, hitting $6.30. 1,428,553 shares of the company's stock were exchanged, compared to its average volume of 3,154,350. Uniti Group Inc. has a 1-year low of $5.89 and a 1-year high of $12.62. The stock's 50-day moving average is $5.51 and its two-hundred day moving average is $5.03. The stock has a market cap of $932.27 million, a price-to-earnings ratio of 22.90 and a beta of 1.47.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The business had revenue of $300.73 million for the quarter, compared to analyst estimates of $304.06 million. During the same quarter in the previous year, the company posted $0.34 EPS. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Uniti Group Inc. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

UNIT has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Citigroup reaffirmed a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a research note on Friday, May 16th. Finally, Wall Street Zen lowered shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $6.70.

Uniti Group Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.