Sei Investments Co. Purchases 108,438 Shares of Uniti Group Inc. $UNIT

Key Points

• Sei Investments increased its Uniti Group stake by 135.6%, buying 108,438 additional shares to hold 188,432 shares valued at approximately $1.77 million. Institutional investors collectively own 87.51% of the company.
• Uniti Group reported quarterly revenue of $909.7 million, exceeding estimates, but its adjusted loss of $0.68 per share missed consensus by $0.23. Analysts expect a full-year loss of $2.09 per share.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $10.92, compared with the stock’s reported opening price of $9.54.

Sei Investments Co. grew its position in shares of Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 135.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,432 shares of the real estate investment trust's stock after purchasing an additional 108,438 shares during the quarter. Sei Investments Co. owned approximately 0.08% of Uniti Group worth $1,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in UNIT. First Trust Advisors LP acquired a new position in shares of Uniti Group in the first quarter valued at approximately $4,203,000. KBC Group NV bought a new stake in Uniti Group during the 1st quarter worth approximately $43,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Uniti Group during the 1st quarter worth approximately $100,000. Principal Financial Group Inc. increased its position in Uniti Group by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 870,891 shares of the real estate investment trust's stock valued at $8,169,000 after acquiring an additional 16,971 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Uniti Group in the 1st quarter valued at approximately $1,781,000. 87.51% of the stock is currently owned by institutional investors.

Uniti Group Price Performance

UNIT opened at $9.54 on Monday. Uniti Group Inc. has a twelve month low of $5.30 and a twelve month high of $12.94. The company has a fifty day moving average of $11.06 and a 200-day moving average of $9.96. The stock has a market cap of $2.32 billion, a PE ratio of 3.52 and a beta of 1.40.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.23). Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. The firm had revenue of $909.70 million during the quarter, compared to analyst estimates of $884.82 million. Sell-side analysts anticipate that Uniti Group Inc. will post -2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on UNIT shares. Citigroup lifted their price target on shares of Uniti Group from $9.00 to $11.75 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Weiss Ratings upgraded Uniti Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 22nd. TD Cowen lowered their target price on Uniti Group from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada lifted their target price on Uniti Group from $6.50 to $7.50 and gave the stock a "sector perform" rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. cut their target price on Uniti Group from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.92.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company's assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti's portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.

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