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

Cwm LLC cut its position in shares of Uniti Group Inc. (NASDAQ:UNIT) by 6.7% in the third quarter, Holdings Channel.com reports. The institutional investor 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC purchased a new stake in shares of Uniti Group during the 3rd quarter worth approximately $84,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Uniti Group in the second quarter worth $28,000. Sanctuary Advisors LLC purchased a new stake in Uniti Group during the second quarter valued at $228,000. Truist Financial Corp grew its stake in shares of Uniti Group by 46.9% in the 2nd quarter. Truist Financial Corp now owns 130,982 shares of the real estate investment trust’s stock worth $382,000 after buying an additional 41,839 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Uniti Group in the 2nd quarter worth about $304,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Insider Buying and Selling at Uniti Group

In other news, SVP Ronald J. Mudry sold 28,693 shares of the business’s stock in a transaction on 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 sale, the senior vice president now directly owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Uniti Group Stock Down 1.1 %

Shares of UNIT opened at $5.64 on Thursday. The business has a fifty day moving average of $5.13 and a 200 day moving average of $4.31. The company has a market cap of $1.36 billion, a PE ratio of 94.00 and a beta of 1.29. Uniti Group Inc. has a 52-week low of $2.57 and a 52-week high of $6.71.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $289.97 million. During the same period in the prior year, the firm posted $0.34 earnings per share. Uniti Group’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Uniti Group Inc. will post 1.31 earnings per share for the current fiscal year.

Uniti Group Profile

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.