Uniti Group Inc. (NASDAQ:UNIT) Short Interest Down 35.1% in July

Key Points

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Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 6,350,000 shares, adecreaseof35.1% from the July 15th total of 9,780,000 shares. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 4.2 days. Currently,4.5% of the company's shares are short sold. Currently,4.5% of the company's shares are short sold. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 4.2 days.

Analysts Set New Price Targets

A number of research firms have weighed in on UNIT. Wall Street Zen downgraded shares of Uniti Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Citigroup reissued a "neutral" rating and set a $5.30 target price on shares of Uniti Group in a research report on Friday, May 16th. Finally, Wells Fargo & Company increased their target price on shares of Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Uniti Group has an average rating of "Moderate Buy" and an average target price of $6.70.

Institutional Investors Weigh In On Uniti Group

Large investors have recently made changes to their positions in the business. KBC Group NV purchased a new stake in shares of Uniti Group during the 1st quarter valued at $28,000. Allworth Financial LP increased its position in shares of Uniti Group by 775.7% during the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 6,919 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Uniti Group in the 2nd quarter valued at about $45,000. American Century Companies Inc. bought a new stake in Uniti Group in the 1st quarter valued at about $65,000. Finally, Inspire Advisors LLC bought a new stake in Uniti Group in the 1st quarter valued at about $66,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

Uniti Group Trading Down 2.1%

Shares of UNIT traded down $0.13 during trading hours on Thursday, reaching $5.97. The stock had a trading volume of 2,550,918 shares, compared to its average volume of 2,567,782. Uniti Group has a 12 month low of $5.95 and a 12 month high of $12.62. The firm has a 50-day simple moving average of $5.23 and a 200 day simple moving average of $5.00. The company has a market capitalization of $883.44 million, a price-to-earnings ratio of 21.70 and a beta of 1.47.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%.The firm had revenue of $300.73 million during the quarter, compared to the consensus estimate of $304.06 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. Uniti Group's revenue for the quarter was up 2.0% on a year-over-year basis. Uniti Group has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Uniti Group will post 1.28 EPS for the current year.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.