Unite Group (LON:UTG) Stock Price Down 10.8% - What's Next?

Key Points

• Unite Group PLC shares fell by 10.8%, with the stock trading between GBX 628 and GBX 630.50, significantly below its previous close of GBX 706.50.
• Despite the drop, Citigroup has maintained a "buy" rating for Unite Group with a price target of GBX 1,205, suggesting potential upside for investors.
• Insider Joe Lister purchased 11,389 shares at an average price of GBX 690, indicating confidence in the company's future performance.

Shares of Unite Group PLC (LON:UTG - Get Free Report) were down 10.8% during mid-day trading on Wednesday . The stock traded as low as GBX 628 ($8.42) and last traded at GBX 630.50 ($8.45). Approximately 4,407,595 shares were traded during trading, an increase of 73% from the average daily volume of 2,545,748 shares. The stock had previously closed at GBX 706.50 ($9.47).

Wall Street Analyst Weigh In

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

Unite Group Stock Down 10.8%

The company has a debt-to-equity ratio of 38.76, a current ratio of 1.58 and a quick ratio of 0.73. The firm has a market cap of £3.08 billion, a PE ratio of 905.89, a P/E/G ratio of 3.20 and a beta of 1.24. The business has a fifty day moving average price of GBX 717.84 and a two-hundred day moving average price of GBX 791.66.

Unite Group (LON:UTG - Get Free Report) last issued 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%. On average, analysts anticipate that Unite Group PLC will post 47.9341004 EPS for the current fiscal year.

Insider Buying and Selling at Unite Group

In other Unite Group news, insider Joe Lister purchased 11,389 shares of the stock in a transaction dated Thursday, September 4th. The shares were acquired at an average price of GBX 690 per share, for a total transaction of £78,584.10. Corporate insiders own 0.83% of the company's stock.

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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