Stock Traders Purchase High Volume of Uniti Group Put Options (UNIT)

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Uniti Group Inc (NASDAQ:UNIT) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 14,424 put options on the company. This represents an increase of 930% compared to the typical daily volume of 1,401 put options.

Shares of NASDAQ:UNIT opened at $12.51 on Wednesday. The company has a market cap of $3.58 billion, a PE ratio of 4.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.28. Uniti Group has a 1 year low of $10.71 and a 1 year high of $23.42.

Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in Uniti Group by 15,343.2% during the fourth quarter. Bank of Montreal Can now owns 4,285,801 shares of the real estate investment trust’s stock worth $66,729,000 after purchasing an additional 4,258,049 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Uniti Group during the 4th quarter worth $45,727,000. Vanguard Group Inc boosted its position in shares of Uniti Group by 9.2% in the third quarter. Vanguard Group Inc now owns 24,299,028 shares of the real estate investment trust’s stock worth $489,626,000 after buying an additional 2,051,974 shares during the period. Vanguard Group Inc. raised its holdings in Uniti Group by 9.2% during the third quarter. Vanguard Group Inc. now owns 24,299,028 shares of the real estate investment trust’s stock valued at $489,626,000 after buying an additional 2,051,974 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Uniti Group by 1,578.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,091,800 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 1,026,739 shares during the period. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. Cowen lowered shares of Uniti Group from an “outperform” rating to a “market perform” rating in a report on Tuesday. Raymond James lowered shares of Uniti Group from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Uniti Group from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $23.00 to $16.00 in a research note on Tuesday. Finally, BidaskClub raised shares of Uniti Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

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Uniti Group Company 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 wireless infrastructure solutions for the communications industry. As of September 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 850 wireless towers, and other communications real estate throughout the United States and Latin America.

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