Uniti Group Inc. $UNIT Shares Sold by EMC Capital Management

EMC Capital Management lessened its position in Uniti Group Inc. (NASDAQ:UNIT) by 50.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,659 shares of the real estate investment trust’s stock after selling 18,732 shares during the period. EMC Capital Management’s holdings in Uniti Group were worth $81,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP grew its stake in Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 6,919 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of Uniti Group in the second quarter valued at $45,000. American Century Companies Inc. acquired a new position in Uniti Group in the first quarter valued at $65,000. Inspire Advisors LLC purchased a new position in Uniti Group during the first quarter worth about $66,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Uniti Group in the 1st quarter worth about $67,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.

Uniti Group Trading Down 3.1%

Shares of Uniti Group stock opened at $5.96 on Thursday. Uniti Group Inc. has a twelve month low of $5.30 and a twelve month high of $12.62. The stock has a market cap of $881.96 million, a price-to-earnings ratio of 1.17 and a beta of 1.52. The company has a fifty day moving average price of $6.15 and a 200 day moving average price of $5.51.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UNIT. Barclays assumed coverage on shares of Uniti Group in a research note on Friday, October 3rd. They set an “equal weight” rating and a $6.00 price objective for the company. Zacks Research raised shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. Wall Street Zen upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. began coverage on Uniti Group in a report on Thursday, October 23rd. They set a “neutral” rating and a $7.00 price objective for the company. Finally, Weiss Ratings upgraded Uniti Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.55.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.