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

Key Points

• Unite Group PLC experienced a significant stock decline of 10.8%, trading at GBX 630.50 after previously closing at GBX 706.50.
• Citigroup has reaffirmed a "buy" rating for Unite Group, setting a price target of GBX 1,205, amid an overall average buy rating from analysts.
• Insider Joe Lister purchased 11,389 shares at an average price of GBX 690, indicating investment confidence, although only 0.83% of the stock is held by insiders.

Unite Group PLC (LON:UTG - Get Free Report)'s stock price was down 10.8% during mid-day trading on Wednesday . The stock traded as low as GBX 628 ($8.43) and last traded at GBX 630.50 ($8.47). Approximately 4,407,595 shares changed hands 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 ($9.49).

Wall Street Analysts Forecast Growth

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

Unite Group Price Performance

The business has a 50-day simple moving average of GBX 720.30 and a 200 day simple moving average of GBX 792.78. The firm has a market cap of £3.08 billion, a P/E ratio of 905.89, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24. The company has a debt-to-equity ratio of 38.76, a quick ratio of 0.73 and a current ratio of 1.58.

Unite Group (LON:UTG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported GBX 38 EPS 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 earnings per share for the current fiscal year.

Insider Buying and Selling at Unite Group

In related news, insider Joe Lister purchased 11,389 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were bought 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.