Uniti Group (NASDAQ:UNIT) Sets New 1-Year Low - Should You Sell?

Key Points

• Uniti Group hit a new 52-week low: Shares fell to $4.74 and last traded at $4.894, below the prior close of $5.45.
• Analyst sentiment is mostly neutral: Seven analysts rate the stock Hold, while two rate it Buy or Strong Buy; the consensus price target is $11.47.
• The stock’s 50-day and 200-day moving averages are $7.84 and $9.40, respectively, and institutional investors own 87.51% of its shares.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report)'s share price hit a new 52-week low during trading on Thursday. The stock traded as low as $4.74 and last traded at $4.8940, with a volume of 2,077,460 shares changing hands. The stock had previously closed at $5.45.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Uniti Group from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Weiss Ratings lowered shares of Uniti Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, October 14th. TD Cowen cut their target price on Uniti Group from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Finally, Raymond James Financial set a $16.00 target price on Uniti Group and gave the stock a "strong-buy" rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Uniti Group has an average rating of "Hold" and a consensus price target of $11.47.

Uniti Group Price Performance

The firm has a fifty day simple moving average of $7.84 and a 200 day simple moving average of $9.40. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 1.88 and a beta of 1.45.

Institutional Investors Weigh In On Uniti Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in Uniti Group by 1,409.9% in the third quarter. Parallel Advisors LLC now owns 4,741 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 4,427 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Uniti Group in the third quarter valued at approximately $109,000. Sterling Capital Management LLC raised its holdings in Uniti Group by 237.5% during the third quarter. Sterling Capital Management LLC now owns 4,934 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 3,472 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in Uniti Group during the third quarter worth approximately $92,000. Finally, Pinnacle Associates Ltd. raised its holdings in Uniti Group by 4.2% during the third quarter. Pinnacle Associates Ltd. now owns 712,211 shares of the real estate investment trust's stock worth $5,968,000 after purchasing an additional 28,411 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company's stock.

About Uniti Group

Uniti Group Inc is a communications infrastructure company that owns, operates and acquires critical network assets used by telecommunications providers and other customers. Its portfolio primarily includes fiber-optic networks, wireless towers, small-cell infrastructure and related real estate. Uniti generally leases this infrastructure to communications companies under long-term agreements.

The company's fiber network supports services such as broadband, data transmission, wireless backhaul and enterprise connectivity.

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