Uniti Group Target of Unusually High Options Trading (NASDAQ:UNIT)

Key Points

• Uniti Group Inc. experienced a significant spike in options trading, with a reported 3,189% increase in call options, totaling 58,700 contracts traded.
• The stock price of Uniti Group fell $0.80 to $7.30 on Tuesday, with a trading volume of 3,777,453 shares, surpassing its average volume.
• Analysts have lowered Uniti Group's price targets, with Citigroup setting it at $5.30 and Wells Fargo reducing it to $4.50.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) saw unusually large options trading on Tuesday. Stock investors acquired 58,700 call options on the company. Thisisanincreaseof3,189% compared to the average volume of 1,785 call options.

Uniti Group Stock Performance

Shares of NASDAQ UNIT traded down $0.80 during mid-day trading on Tuesday, hitting $7.30. 3,777,453 shares of the stock traded hands, compared to its average volume of 1,126,893. Uniti Group has a 52 week low of $6.81 and a 52 week high of $12.62. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 27.90 and a beta of 1.47. The stock has a fifty day moving average price of $4.65 and a 200-day moving average price of $4.90.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). The company had revenue of $300.73 million during the quarter, compared to analysts' expectations of $304.06 million. Uniti Group had a negative return on equity of 1.43% and a net margin of 2.96%. The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. As a group, sell-side analysts predict that Uniti Group will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Uniti Group

Institutional investors have recently modified their holdings of the stock. KBC Group NV bought a new stake in Uniti Group during the 1st quarter valued at $28,000. Park Avenue Securities LLC acquired a new position in shares of Uniti Group in the 2nd quarter valued at about $45,000. American Century Companies Inc. acquired a new position in Uniti Group in the 1st quarter worth about $65,000. Inspire Advisors LLC acquired a new position in shares of Uniti Group during the first quarter valued at approximately $66,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of Uniti Group during the first quarter valued at approximately $67,000. 87.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UNIT has been the subject of a number of analyst reports. Citigroup reissued a "neutral" rating and issued a $5.30 price target on shares of Uniti Group in a research report on Friday, May 16th. Wells Fargo & Company cut their price target on Uniti Group from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Thursday, May 8th.

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.

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