Unifi, Inc. (UFI) Director Kenneth G. Langone Buys 5,949 Shares
Unifi, Inc. (NYSE:UFI) Director Kenneth G. Langone purchased 5,949 shares of Unifi stock in a transaction on Monday, October 30th. The shares were acquired at an average cost of $37.74 per share, for a total transaction of $224,515.26. Following the purchase, the director now owns 1,120,000 shares in the company, valued at $42,268,800. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
Unifi (NYSE:UFI) last announced its earnings results on Monday, October 23rd. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. Unifi had a net margin of 4.98% and a return on equity of 9.53%. The company had revenue of $164.24 million for the quarter, compared to analyst estimates of $163.42 million. During the same period in the prior year, the business earned $0.51 earnings per share. Unifi’s quarterly revenue was up 2.7% on a year-over-year basis.
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Several hedge funds have recently made changes to their positions in UFI. BNP Paribas Arbitrage SA lifted its holdings in Unifi by 58.5% in the second quarter. BNP Paribas Arbitrage SA now owns 4,628 shares of the textile maker’s stock valued at $143,000 after buying an additional 1,709 shares during the period. Susquehanna International Group LLP acquired a new position in Unifi in the second quarter valued at approximately $212,000. Crossmark Global Holdings Inc. acquired a new position in Unifi in the third quarter valued at approximately $215,000. Voya Investment Management LLC acquired a new position in Unifi in the second quarter valued at approximately $258,000. Finally, Citadel Advisors LLC acquired a new position in Unifi in the second quarter valued at approximately $272,000. Institutional investors own 76.46% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research lowered Unifi from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. ValuEngine downgraded Unifi from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. CJS Securities started coverage on Unifi in a research note on Wednesday, September 20th. They set an “outperform” rating and a $42.00 target price for the company. Finally, BidaskClub downgraded Unifi from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th.
Unifi Company Profile
Unifi, Inc is a manufacturing company. The Company processes and sells commodity yarns, specialized yarns and premier value-added (PVA) yarns. The Company operates through three segments: Polyester segment, Nylon segment and International segment. The Company’s polyester products include polyester polymer beads (Chip), partially oriented yarn (POY), textured, solution and package dyed, twisted, beamed and draw wound yarns.
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