Bienville Capital Management LLC Lowers Stake in Uniti Group Inc. (NASDAQ:UNIT)

Bienville Capital Management LLC decreased its holdings in Uniti Group Inc. (NASDAQ:UNIT - Free Report) by 60.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,249 shares of the real estate investment trust's stock after selling 241,906 shares during the period. Bienville Capital Management LLC owned 0.07% of Uniti Group worth $876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UNIT. Virtu Financial LLC bought a new position in Uniti Group during the 3rd quarter valued at about $70,000. Wilmington Savings Fund Society FSB bought a new position in Uniti Group in the 3rd quarter worth about $986,000. Franklin Resources Inc. increased its position in shares of Uniti Group by 2.2% during the third quarter. Franklin Resources Inc. now owns 106,104 shares of the real estate investment trust's stock worth $572,000 after acquiring an additional 2,328 shares during the period. CWA Asset Management Group LLC raised its stake in shares of Uniti Group by 14.6% during the fourth quarter. CWA Asset Management Group LLC now owns 78,482 shares of the real estate investment trust's stock valued at $432,000 after acquiring an additional 10,023 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Uniti Group during the fourth quarter valued at approximately $74,000. Hedge funds and other institutional investors own 87.51% of the company's stock.

Uniti Group Stock Down 9.6 %

NASDAQ:UNIT traded down $0.48 during mid-day trading on Tuesday, reaching $4.52. The company's stock had a trading volume of 3,884,034 shares, compared to its average volume of 2,612,544. The firm has a market capitalization of $1.11 billion, a PE ratio of 11.02 and a beta of 1.59. The stock has a fifty day moving average of $4.89 and a 200-day moving average of $5.39. Uniti Group Inc. has a 1 year low of $2.57 and a 1 year high of $6.31.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Uniti Group had a net margin of 8.82% and a negative return on equity of 4.12%. During the same period in the previous year, the firm posted $0.32 earnings per share. Uniti Group's quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Raymond James raised Uniti Group from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $6.00 to $8.00 in a research report on Monday, February 24th.

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.