Unite Group (LON:UTG) Shares Down 10.5% - Time to Sell?

Key Points

• Unite Group PLC shares dropped 10.5% on Wednesday, closing at GBX 632.50 ($8.49), which is significantly lower than its previous close of GBX 706.50 ($9.49).
• Despite the decline, analysts from Citigroup have maintained a "buy" rating for the stock with a target price of GBX 1,205, suggesting confidence in the company's future performance.
• Insider Joe Lister purchased 11,389 shares at an average price of GBX 690 per share, indicating potential insider belief in the value of the stock.

Unite Group PLC (LON:UTG - Get Free Report) shares fell 10.5% during trading on Wednesday . The stock traded as low as GBX 632.50 ($8.49) and last traded at GBX 632.50 ($8.49). 2,264,770 shares were traded during mid-day trading, a decline of 11% from the average session volume of 2,534,759 shares. The stock had previously closed at GBX 706.50 ($9.49).

Analyst Upgrades and Downgrades

Separately, Citigroup reiterated a "buy" rating and set a GBX 1,205 target price on shares of Unite Group in a research note on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of GBX 1,205.

Unite Group Price Performance

The company has a 50 day moving average of GBX 720.30 and a two-hundred day moving average of GBX 792.78. The firm has a market cap of £3.08 billion, a P/E ratio of 905.89, a PEG 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 quarterly earnings results on Tuesday, July 29th. The company reported GBX 38 earnings per share for the quarter. Unite Group had a return on equity of 6.45% and a net margin of 79.68%. Sell-side analysts expect that Unite Group PLC will post 47.9341004 EPS for the current year.

Insider Buying and Selling at Unite Group

In related news, insider Joe Lister purchased 11,389 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was acquired at an average price of GBX 690 per share, for a total transaction of £78,584.10. 0.83% of the stock is owned by company insiders.

About Unite Group

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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