Uniti Group (NASDAQ:UNIT) Stock Jumps 5.7% - Here's What Happened

Key Points

• Uniti Group shares rose 5.7% in Friday midday trading to about $4.54, while trading volume was 83% below its average.
• Analyst views are mixed: the consensus rating is Hold with a $9.50 average price target, despite recent target cuts and a range of Buy to Sell ratings.
• The company reported a quarterly loss of $1.03 per share, missing the consensus estimate of a $0.63 loss; revenue of $848.1 million also came in slightly below expectations.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report)'s stock price traded up 5.7% during mid-day trading on Friday. The company traded as high as $4.50 and last traded at $4.5440. Approximately 464,101 shares were traded during trading, a decline of 83% from the average daily volume of 2,706,018 shares. The stock had previously closed at $4.30.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Uniti Group from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday. Raymond James Financial reiterated a "strong-buy" rating and issued a $12.00 price target on shares of Uniti Group in a research report on Tuesday. Citigroup reduced their price objective on shares of Uniti Group from $11.75 to $5.00 and set a "neutral" rating for the company in a research note on Thursday. Weiss Ratings cut shares of Uniti Group from a "hold (c)" rating to a "sell (d)" rating in a research note on Wednesday. Finally, TD Cowen decreased their price objective on shares of Uniti Group from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Uniti Group has a consensus rating of "Hold" and an average price target of $9.50.

Uniti Group Stock Up 6.7%

The business has a 50 day moving average price of $7.20 and a two-hundred day moving average price of $9.31. The stock has a market cap of $1.11 billion, a P/E ratio of -1.41 and a beta of 1.45.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its earnings results on Monday, November 9th. The real estate investment trust reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.40). Uniti Group had a negative net margin of 21.20% and a negative return on equity of 397.08%. The business had revenue of $848.10 million for the quarter, compared to the consensus estimate of $851.37 million. On average, research analysts forecast that Uniti Group Inc. will post -2.17 earnings per share for the current year.

Institutional Investors Weigh In On Uniti Group

Several institutional investors and hedge funds have recently modified their holdings of UNIT. Fortitude Family Office LLC lifted its holdings in shares of Uniti Group by 7,156.7% in the third quarter. Fortitude Family Office LLC now owns 4,354 shares of the real estate investment trust's stock worth $36,000 after buying an additional 4,294 shares in the last quarter. KBC Group NV purchased a new stake in Uniti Group in the 1st quarter worth $43,000. Parallel Advisors LLC lifted its stake in Uniti Group by 1,409.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,741 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 4,427 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Uniti Group by 237.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,934 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 3,472 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Uniti Group during the 2nd quarter valued at about $95,000. Institutional investors own 87.51% of the company's stock.

About Uniti Group

Uniti Group is a communications infrastructure company that owns, builds and operates fiber-optic networks and related broadband assets. Its network infrastructure supports broadband, wireless, enterprise and government communications, including fiber connectivity for businesses and other network operators. Founded in 2015 as a spin-off from Windstream, Uniti initially focused on owning and leasing communications infrastructure, including fiber networks. In 2025, Uniti combined with Windstream, bringing together infrastructure operations with Windstream's Kinetic broadband and enterprise services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.