Unite Group (LON:UTG) Stock Price Down 10.8% - Here's Why

Key Points

• Unite Group PLC shares fell by 10.8% in trading, reaching a low of GBX 628 and closing at GBX 630.50.
• Citigroup reaffirmed a "buy" rating for the stock, setting a new price target of GBX 1,205, while the consensus target price remains consistent.
• Insider Joe Lister recently purchased 11,389 shares at an average price of GBX 690, indicating confidence in the company's future.

Unite Group PLC (LON:UTG - Get Free Report) shares fell 10.8% during trading on Wednesday . The company traded as low as GBX 628 ($8.43) and last traded at GBX 630.50 ($8.47). 4,407,595 shares changed hands during mid-day trading, an increase of 73% from the average session volume of 2,545,748 shares. The stock had previously closed at GBX 706.50 ($9.49).

Analysts Set New Price Targets

Separately, Citigroup reaffirmed a "buy" rating and issued a GBX 1,205 price objective on shares of Unite Group in a research report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of GBX 1,205.

Unite Group Stock Performance

The firm has a market capitalization of £3.08 billion, a PE ratio of 905.89, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 0.73 and a debt-to-equity ratio of 38.76. The business's 50 day simple moving average is GBX 720.30 and its two-hundred day simple moving average is GBX 792.78.

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

Insider Activity

In other Unite Group news, insider Joe Lister acquired 11,389 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was purchased at an average price of GBX 690 per share, with a total value of £78,584.10. 0.83% of the stock is currently owned by insiders.

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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