Uniti Group (NASDAQ:UNIT) Sets New 52-Week Low – Should You Sell?

Uniti Group Inc. (NASDAQ:UNIT) shares hit a new 52-week low on Wednesday. The stock traded as low as $4.82 and last traded at $4.8850, with a volume of 1,387,236 shares. The stock had previously closed at $5.08.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen lowered their price objective on shares of Uniti Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings cut Uniti Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 14th. JPMorgan Chase & Co. decreased their price target on shares of Uniti Group from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Finally, Raymond James Financial set a $16.00 price objective on Uniti Group and gave the stock a “strong-buy” rating in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.47.

Uniti Group Stock Down 1.7%

The firm’s 50-day moving average price is $8.23 and its 200 day moving average price is $9.45. The firm has a market cap of $1.23 billion, a P/E ratio of 1.87 and a beta of 1.42.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.23). Uniti Group had a net margin of 28.68% and a negative return on equity of 133.07%. The company had revenue of $909.70 million during the quarter, compared to the consensus estimate of $884.82 million. On average, equities analysts predict that Uniti Group Inc. will post -2.01 earnings per share for the current year.

Institutional Trading of Uniti Group

Large investors have recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC purchased a new stake in Uniti Group in the third quarter worth approximately $109,000. Sterling Capital Management LLC grew its position in shares of Uniti Group by 237.5% in the 3rd quarter. Sterling Capital Management LLC now owns 4,934 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 3,472 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in Uniti Group in the 3rd quarter worth $92,000. Pinnacle Associates Ltd. boosted its position in Uniti Group by 4.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 712,211 shares of the real estate investment trust’s stock worth $5,968,000 after purchasing an additional 28,411 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in shares of Uniti Group during the 3rd quarter valued at approximately $87,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

About Uniti Group

Uniti Group Inc is a communications infrastructure company that owns, operates and acquires critical network assets used by telecommunications providers and other customers. Its portfolio primarily includes fiber-optic networks, wireless towers, small-cell infrastructure and related real estate. Uniti generally leases this infrastructure to communications companies under long-term agreements.

The company’s fiber network supports services such as broadband, data transmission, wireless backhaul and enterprise connectivity.