Uniti Group (NASDAQ:UNIT) Sees Unusually-High Trading Volume – Time to Buy?

Uniti Group Inc. (NASDAQ:UNIT) shares saw strong trading volume on Wednesday . 2,087,135 shares were traded during trading, a decline of 0% from the previous session’s volume of 2,091,898 shares.The stock last traded at $10.0940 and had previously closed at $9.38.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on UNIT shares. Wall Street Zen cut shares of Uniti Group from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Raymond James Financial reissued a “strong-buy” rating and set a $11.00 target price on shares of Uniti Group in a research note on Tuesday, March 3rd. Citigroup boosted their price target on shares of Uniti Group from $8.80 to $9.00 and gave the stock a “neutral” rating in a research report on Monday, March 9th. Wells Fargo & Company upped their price target on shares of Uniti Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Finally, Zacks Research cut shares of Uniti Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.60.

Uniti Group Stock Up 7.8%

The company has a 50 day moving average of $7.95 and a two-hundred day moving average of $7.02. The firm has a market cap of $2.42 billion, a P/E ratio of 2.68 and a beta of 1.50.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.73). Uniti Group had a negative return on equity of 2.52% and a net margin of 55.60%.The business had revenue of $917.20 million during the quarter, compared to the consensus estimate of $909.44 million. During the same quarter last year, the firm posted $0.35 earnings per share. Uniti Group’s revenue was up 212.8% compared to the same quarter last year. Research analysts expect that Uniti Group Inc. will post 1.28 earnings per share for the current fiscal year.

Institutional Trading of Uniti Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC bought a new stake in Uniti Group during the fourth quarter worth approximately $40,000. Osaic Holdings Inc. increased its holdings in shares of Uniti Group by 20.6% in the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,795 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Uniti Group during the 4th quarter valued at $72,000. FNY Investment Advisers LLC acquired a new stake in shares of Uniti Group during the 3rd quarter valued at $75,000. Finally, Cibc World Markets Corp bought a new stake in shares of Uniti Group during the 4th quarter worth $78,000. 87.51% of the stock is owned by institutional investors and hedge funds.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.