Short Interest in Unifi, Inc. (NYSE:UFI) Grows By 23.9%

Unifi, Inc. (NYSE:UFI - Get Free Report) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 319,100 shares, an increase of 23.9% from the March 31st total of 257,600 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 69,200 shares, the days-to-cover ratio is presently 4.6 days.

Unifi Stock Up 2.5 %

NYSE:UFI traded up $0.13 during mid-day trading on Friday, hitting $5.17. The company had a trading volume of 97,215 shares, compared to its average volume of 58,998. Unifi has a 1 year low of $4.25 and a 1 year high of $7.91. The business has a fifty day simple moving average of $5.03 and a 200-day simple moving average of $5.63. The company has a current ratio of 3.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $94.78 million, a price-to-earnings ratio of -2.82 and a beta of 0.50.

Unifi (NYSE:UFI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The textile maker reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.07. The business had revenue of $146.56 million for the quarter, compared to analysts' expectations of $145.28 million. Unifi had a negative return on equity of 14.49% and a negative net margin of 5.62%. Equities analysts forecast that Unifi will post -2.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Unifi from a "hold" rating to a "sell" rating in a research note on Tuesday.

Insider Buying and Selling

In other news, Director Kenneth G. Langone purchased 16,097 shares of the stock in a transaction dated Monday, February 10th. The stock was acquired at an average cost of $5.55 per share, for a total transaction of $89,338.35. Following the completion of the acquisition, the director now directly owns 2,352,000 shares in the company, valued at $13,053,600. This represents a 0.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.85% of the stock is currently owned by company insiders.

Institutional Trading of Unifi

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Unifi by 5.7% during the third quarter. State Street Corp now owns 58,922 shares of the textile maker's stock valued at $432,000 after purchasing an additional 3,200 shares during the last quarter. Barclays PLC raised its position in Unifi by 778.3% in the third quarter. Barclays PLC now owns 11,479 shares of the textile maker's stock worth $85,000 after acquiring an additional 10,172 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Unifi by 5,775.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,163 shares of the textile maker's stock valued at $82,000 after purchasing an additional 10,973 shares in the last quarter. Peapod Lane Capital LLC acquired a new position in shares of Unifi in the 4th quarter worth approximately $3,191,000. Finally, Minerva Advisors LLC increased its holdings in shares of Unifi by 5.6% in the fourth quarter. Minerva Advisors LLC now owns 855,241 shares of the textile maker's stock valued at $5,345,000 after buying an additional 45,013 shares in the last quarter. Institutional investors and hedge funds own 67.67% of the company's stock.

About Unifi

Unifi, Inc, together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. Its polyester products include partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns.

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