Unite Group (LON:UTG) Sets New 52-Week Low - Here's What Happened

Key Points

• Unite Group PLC shares reached a new 52-week low, trading at GBX 567.50 ($7.62) during Monday's session, a decline from a previous close of GBX 574.50 ($7.71).
• Despite the stock's recent drop, Citigroup has maintained a "buy" rating with a price target of GBX 1,205, indicating a consensus rating of "Buy" among analysts.
• Insiders have recently purchased shares, including Ross Paterson who bought 5,000 shares at an average of GBX 621, reflecting confidence in the company amidst its stock price decline.

Unite Group PLC (LON:UTG - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as GBX 567.50 ($7.62) and last traded at GBX 570.47 ($7.66), with a volume of 17019129 shares traded. The stock had previously closed at GBX 574.50 ($7.71).

Analyst Upgrades and Downgrades

Separately, Citigroup reaffirmed a "buy" rating and issued a GBX 1,205 price objective on shares of Unite Group in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of GBX 1,205.

Unite Group Stock Performance

The firm's 50-day moving average price is GBX 696.91 and its two-hundred day moving average price is GBX 780.92. The firm has a market capitalization of £2.79 billion, a PE ratio of 818.97, a P/E/G ratio of 3.20 and a beta of 1.24. The company has a quick ratio of 0.73, a current ratio of 1.58 and a debt-to-equity ratio of 38.76.

Unite Group (LON:UTG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported GBX 38 earnings per share for the quarter. Unite Group had a net margin of 79.68% and a return on equity of 6.45%. As a group, research analysts predict that Unite Group PLC will post 47.9341004 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ross Paterson acquired 5,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were purchased at an average cost of GBX 621 per share, with a total value of £31,050. Also, insider Joe Lister acquired 11,389 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were bought at an average cost of GBX 690 per share, for a total transaction of £78,584.10. Insiders own 0.83% of the company's stock.

Unite Group Company Profile

Unite Students is the UK's largest owner, manager and developer of purpose-built student accommodation, serving the country's world-leading Higher Education sector. We provide homes to 70,000 students across 157 properties in 23 leading university towns and cities. We currently partner with over 60 universities across the UK.

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