Insider Buying: Unifi, Inc. (NYSE:UFI) Director Buys $55,532.22 in Stock

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Unifi, Inc. (NYSE:UFI) Director Kenneth G. Langone purchased 2,778 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average price of $19.99 per share, for a total transaction of $55,532.22. Following the transaction, the director now directly owns 1,213,811 shares in the company, valued at $24,264,081.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of UFI opened at $19.85 on Friday. Unifi, Inc. has a twelve month low of $15.90 and a twelve month high of $33.10. The stock’s 50 day moving average is $18.67 and its two-hundred day moving average is $19.78. The firm has a market capitalization of $357.79 million, a PE ratio of 647.33 and a beta of 0.71. The company has a current ratio of 3.55, a quick ratio of 1.76 and a debt-to-equity ratio of 0.32.

Unifi (NYSE:UFI) last announced its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Unifi had a return on equity of 0.14% and a net margin of 0.35%. The company had revenue of $179.49 million for the quarter, compared to analyst estimates of $186.90 million. On average, sell-side analysts predict that Unifi, Inc. will post 0.86 EPS for the current year.

Several equities analysts recently issued reports on UFI shares. Zacks Investment Research upgraded Unifi from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, August 15th. ValuEngine upgraded Unifi from a “sell” rating to a “hold” rating in a research report on Saturday, May 4th.

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Shields & Co. LLC purchased a new stake in Unifi in the 1st quarter valued at approximately $639,000. Asset Planning Services Ltd. purchased a new stake in Unifi in the 2nd quarter valued at approximately $28,000. Pinnacle Associates Ltd. boosted its holdings in Unifi by 3.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 473,960 shares of the textile maker’s stock valued at $9,171,000 after purchasing an additional 15,588 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Unifi by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 170,706 shares of the textile maker’s stock valued at $3,898,000 after purchasing an additional 9,094 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in shares of Unifi by 31.9% during the 1st quarter. Kennedy Capital Management Inc. now owns 219,499 shares of the textile maker’s stock worth $4,247,000 after acquiring an additional 53,089 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Unifi Company Profile

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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