Panagora Asset Management Inc. Boosts Stock Position in Uniti Group Inc. $UNIT

Key Points

• Panagora Asset Management Inc. increased its stake in Uniti Group Inc. by 287.9% in the first quarter, owning a total of 318,066 shares worth approximately $1.6 million.
• Uniti Group reported a Q2 earnings per share (EPS) of $0.36, missing analysts' expectations of $0.42, while its revenue for the quarter was $300.73 million.
• The stock has seen a 3.4% increase and has a current price target consensus of $6.70 following recent analyst evaluations.

Panagora Asset Management Inc. increased its position in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 287.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 318,066 shares of the real estate investment trust's stock after purchasing an additional 236,061 shares during the period. Panagora Asset Management Inc. owned 0.13% of Uniti Group worth $1,603,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. KBC Group NV purchased a new stake in Uniti Group in the first quarter valued at approximately $28,000. American Century Companies Inc. purchased a new stake in Uniti Group in the 1st quarter valued at $65,000. Inspire Advisors LLC acquired a new stake in Uniti Group during the 1st quarter worth $66,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in Uniti Group during the 1st quarter worth $67,000. Finally, Corton Capital Inc. acquired a new position in Uniti Group in the first quarter valued at $86,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Stock Up 3.0%

Shares of Uniti Group stock traded up $0.19 during trading on Friday, reaching $6.44. The company's stock had a trading volume of 2,460,739 shares, compared to its average volume of 2,908,549. The business has a 50 day moving average price of $5.71 and a 200-day moving average price of $5.05. Uniti Group Inc. has a 12-month low of $5.68 and a 12-month high of $12.62. The company has a market capitalization of $952.99 million, a P/E ratio of 23.41 and a beta of 1.50.

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

Analyst Upgrades and Downgrades

UNIT has been the subject of several recent research reports. Wall Street Zen downgraded shares of Uniti Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company increased their price objective on Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Citigroup reissued a "neutral" rating and issued a $5.30 target price on shares of Uniti Group in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Uniti Group currently has a consensus rating of "Moderate Buy" and an average target price of $6.70.

Uniti Group Company 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.