UNITE Group (OTCMKTS:UTGPF) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Unusually strong trading volume: About 10,850 shares changed hands Thursday (a 208% increase from 3,520), with the stock last at $6.20, up roughly 1.6% from $6.10.
• Analyst action: Barclays downgraded UNITE Group from "strong-buy" to "hold"; the stock's consensus rating is a Moderate Buy (1 Strong Buy, 1 Buy, 2 Hold).
• Business profile: Unite Students is the UK's largest purpose-built student accommodation owner, serving about 76,000 students across 177 properties after its £1.4bn Liberty Living acquisition.

UNITE Group PLC (OTCMKTS:UTGPF - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 10,850 shares changed hands during trading, an increase of 208% from the previous session's volume of 3,520 shares.The stock last traded at $6.20 and had previously closed at $6.10.

Analysts Set New Price Targets

Separately, Barclays downgraded UNITE Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

UNITE Group Trading Up 1.6%

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. Following our successful £1.4bn acquisition of Liberty Living's UK assets in November 2019, we now provide homes to 76,000 students across 177 properties in 27 leading university towns and cities. Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us and to be the most trusted brand in the sector.

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