Short Interest in Unifi, Inc. (NYSE:UFI) Drops By 7.6%

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Unifi, Inc. (NYSE:UFI) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 594,300 shares, a drop of 7.6% from the May 30th total of 642,900 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average daily trading volume, of 94,400 shares, the days-to-cover ratio is presently 6.3 days.

NYSE:UFI traded down $0.16 during mid-day trading on Monday, hitting $18.15. The stock had a trading volume of 900 shares, compared to its average volume of 80,959. The firm’s 50-day simple moving average is $18.49. The company has a market capitalization of $337.33 million, a P/E ratio of 13.87 and a beta of 0.69. Unifi has a twelve month low of $16.85 and a twelve month high of $33.62. The company has a quick ratio of 1.76, a current ratio of 3.30 and a debt-to-equity ratio of 0.31.

Unifi (NYSE:UFI) last issued its earnings results on Wednesday, May 1st. The textile maker reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.21). The firm had revenue of $179.99 million during the quarter, compared to analyst estimates of $173.60 million. Unifi had a net margin of 1.72% and a return on equity of 1.77%. As a group, equities analysts anticipate that Unifi will post 0.12 EPS for the current fiscal year.

UFI has been the topic of several research reports. Sidoti cut shares of Unifi from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Finally, Zacks Investment Research cut shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th.

In other Unifi news, Director Holdings L.P. Valueact purchased 15,000 shares of Unifi stock in a transaction dated Thursday, May 9th. The shares were acquired at an average price of $20.18 per share, with a total value of $302,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Spring Master Fund L. Valueact purchased 52,500 shares of Unifi stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $20.20 per share, for a total transaction of $1,060,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 268,800 shares of company stock valued at $5,465,107. 22.41% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of UFI. FMR LLC purchased a new stake in Unifi in the 1st quarter valued at about $1,262,000. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Unifi by 216.4% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 44,306 shares of the textile maker’s stock valued at $857,000 after buying an additional 30,305 shares during the period. Kennedy Capital Management Inc. grew its holdings in Unifi by 31.9% in the 1st quarter. Kennedy Capital Management Inc. now owns 219,499 shares of the textile maker’s stock valued at $4,247,000 after buying an additional 53,089 shares during the period. Impala Asset Management LLC grew its holdings in shares of Unifi by 4.6% during the 1st quarter. Impala Asset Management LLC now owns 1,580,040 shares of the textile maker’s stock worth $30,574,000 after purchasing an additional 69,638 shares during the period. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Unifi during the 1st quarter worth about $639,000. 81.12% of the stock is currently owned by hedge funds and other institutional investors.

About Unifi

Unifi, Inc, together with its subsidiaries, manufactures and sells synthetic and recycled products made from polyester and nylon in the United States, Brazil, China, and internationally. The company operates in three segments: Polyester, Nylon, and International. The Polyester segment manufactures and sells polyester plastic bottle flakes, polymer beads, partially oriented yarns, textured, solution and package dyed, twisted, beamed, and draw wound yarns to other yarn manufacturers, and knitters and weavers that produce yarn and/or fabric for the apparel, hosiery, home furnishings, automotive, industrial, and other end-use markets.

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