Cwm LLC Sells 2,089 Shares of Uniti Group Inc. (NASDAQ:UNIT)

Cwm LLC lessened its stake in Uniti Group Inc. (NASDAQ:UNIT) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,140 shares of the real estate investment trust’s stock after selling 2,089 shares during the period. Cwm LLC’s holdings in Uniti Group were worth $164,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in UNIT. Jupiter Asset Management Ltd. grew its holdings in shares of Uniti Group by 174.0% in the first quarter. Jupiter Asset Management Ltd. now owns 680,461 shares of the real estate investment trust’s stock worth $4,015,000 after acquiring an additional 432,158 shares during the period. Inspire Investing LLC boosted its position in Uniti Group by 219.9% in the first quarter. Inspire Investing LLC now owns 210,840 shares of the real estate investment trust’s stock worth $1,244,000 after purchasing an additional 144,933 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Uniti Group by 7.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 75,441 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 5,062 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Uniti Group by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 80,661 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 6,798 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in shares of Uniti Group by 21.2% in the 1st quarter. Mizuho Markets Americas LLC now owns 1,363,762 shares of the real estate investment trust’s stock worth $8,046,000 after purchasing an additional 239,000 shares during the period. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Uniti Group Stock Down 1.1 %

Shares of UNIT opened at $5.64 on Thursday. The business has a 50-day simple moving average of $5.13 and a two-hundred day simple moving average of $4.31. Uniti Group Inc. has a 52 week low of $2.57 and a 52 week high of $6.71. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 94.00 and a beta of 1.29.

Uniti Group (NASDAQ:UNIT) last released 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 firm had revenue of $294.90 million during the quarter, compared to analysts’ expectations of $289.97 million. During the same period in the prior year, the company posted $0.34 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Uniti Group Inc. will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Ronald J. Mudry sold 28,693 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $3.94, for a total value 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 approximately $2,024,218.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

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

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.