Uniti Group (NASDAQ:UNIT) Trading Down 5.5% – Time to Sell?

Uniti Group Inc. (NASDAQ:UNIT) was down 5.5% on Tuesday . The company traded as low as $7.73 and last traded at $7.6150. Approximately 617,357 shares changed hands during trading, a decline of 70% from the average daily volume of 2,024,311 shares. The stock had previously closed at $8.06.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays set a $8.00 price objective on Uniti Group in a research note on Thursday, January 29th. Wall Street Zen upgraded Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company dropped their price objective on shares of Uniti Group from $7.50 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.83.

Uniti Group Price Performance

The firm has a 50-day moving average of $7.61 and a 200 day moving average of $6.76. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 1.51 and a beta of 1.47.

Institutional Trading of Uniti Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in UNIT. Allworth Financial LP grew its position in shares of 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 valued at $34,000 after acquiring an additional 6,919 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Uniti Group in the 4th quarter valued at about $40,000. Osaic Holdings Inc. lifted its stake in Uniti Group by 20.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,795 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Uniti Group during the fourth quarter worth about $72,000. Finally, FNY Investment Advisers LLC acquired a new position in Uniti Group during the third quarter worth approximately $75,000. 87.51% of the stock is owned by institutional investors.

About Uniti Group

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company’s assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti’s portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.