Quinn Opportunity Partners LLC Has $2.18 Million Holdings in Uniti Group Inc. $UNIT

Quinn Opportunity Partners LLC cut its stake in Uniti Group Inc. (NASDAQ:UNIT) by 39.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,186 shares of the real estate investment trust’s stock after selling 234,605 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.24% of Uniti Group worth $2,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of UNIT. King Street Capital Management L.P. lifted its stake in shares of Uniti Group by 36.4% in the second quarter. King Street Capital Management L.P. now owns 6,000,000 shares of the real estate investment trust’s stock valued at $25,920,000 after buying an additional 1,600,000 shares during the period. Bracebridge Capital LLC increased its stake in Uniti Group by 33.0% during the second quarter. Bracebridge Capital LLC now owns 3,234,638 shares of the real estate investment trust’s stock valued at $13,974,000 after acquiring an additional 802,600 shares during the period. Jupiter Asset Management Ltd. bought a new position in Uniti Group during the second quarter valued at about $731,000. Contrarian Capital Management L.L.C. acquired a new position in Uniti Group in the 3rd quarter valued at approximately $2,783,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Uniti Group in the 2nd quarter valued at approximately $782,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Trading Down 1.3%

UNIT stock opened at $7.72 on Friday. Uniti Group Inc. has a 1-year low of $5.30 and a 1-year high of $11.73. The business’s 50 day moving average is $7.83 and its 200-day moving average is $6.90. The firm has a market cap of $1.14 billion, a P/E ratio of 2.05 and a beta of 1.50.

Uniti Group (NASDAQ:UNIT) last posted its 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 company had revenue of $917.30 million for the quarter, compared to the consensus estimate of $909.44 million. During the same quarter last year, the business earned $0.35 EPS. Uniti Group’s quarterly revenue was up 212.8% compared to the same quarter last year. Sell-side analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

UNIT has been the topic of several recent research reports. Wall Street Zen lowered Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Zacks Research cut Uniti Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Wells Fargo & Company lifted 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, Barclays set a $8.00 price target on shares of Uniti Group in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.60.

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.