Uniti Group Inc. (NASDAQ:UNIT) Shares Sold by Axa S.A.

Axa S.A. lowered its position in Uniti Group Inc. (NASDAQ:UNIT) by 7.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 370,000 shares of the real estate investment trust’s stock after selling 30,600 shares during the period. Axa S.A. owned 0.15% of Uniti Group worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Uniti Group in the second quarter worth about $28,000. Meeder Advisory Services Inc. purchased a new position in Uniti Group in the 2nd quarter worth approximately $36,000. Everhart Financial Group Inc. acquired a new position in shares of Uniti Group during the 2nd quarter worth approximately $41,000. Choreo LLC purchased a new stake in shares of Uniti Group in the second quarter valued at approximately $41,000. Finally, GAMMA Investing LLC increased its holdings in shares of Uniti Group by 49.8% in the first quarter. GAMMA Investing LLC now owns 8,906 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 2,960 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Uniti Group Price Performance

Uniti Group stock opened at $5.52 on Wednesday. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 92.00 and a beta of 1.28. The firm has a 50 day simple moving average of $4.56 and a 200-day simple moving average of $4.35. Uniti Group Inc. has a 1-year low of $2.57 and a 1-year high of $6.71.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.28). Uniti Group had a negative return on equity of 0.37% and a net margin of 0.79%. The business had revenue of $294.90 million for the quarter, compared to analyst estimates of $289.97 million. During the same period last year, the business earned $0.34 EPS. Uniti Group’s revenue was up 3.9% compared to the same quarter last year. Equities analysts expect that Uniti Group Inc. will post 1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $5.50 price objective on shares of Uniti Group in a research note on Thursday, August 29th.

Insider Activity at Uniti Group

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total transaction of $113,050.42. Following the completion of the transaction, the senior vice president now owns 513,761 shares of the company’s stock, valued at $2,024,218.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.39% of the stock is owned by insiders.

About Uniti Group

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.