Uniti Group (NASDAQ:UNIT) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Uniti Group Inc. (NASDAQ:UNIT) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.88 and traded as high as $7.94. Uniti Group shares last traded at $7.89, with a volume of 1,956,782 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on UNIT. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $11.00 target price on shares of Uniti Group in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Uniti Group in a research note on Monday, December 29th. Barclays set a $8.00 price target on Uniti Group in a report on Thursday, January 29th. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Finally, Citigroup boosted their target price on Uniti Group from $8.80 to $9.00 and gave the stock a “neutral” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.60.

Uniti Group Stock Performance

The stock has a market capitalization of $1.88 billion, a PE ratio of 2.08 and a beta of 1.50. The company’s fifty day simple moving average is $7.89 and its two-hundred day simple moving average is $7.00.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Monday, March 2nd. The real estate investment trust reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.73). Uniti Group had a net margin of 55.60% and a negative return on equity of 2.52%. The business had revenue of $917.30 million during the quarter, compared to analysts’ expectations of $909.44 million. During the same period last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 212.8% on a year-over-year basis. Sell-side analysts forecast that Uniti Group Inc. will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Uniti Group

Institutional investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC acquired a new stake in shares of Uniti Group during the fourth quarter valued at $40,000. Osaic Holdings Inc. raised 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 purchased a new position in Uniti Group in the 4th quarter valued at about $72,000. FNY Investment Advisers LLC purchased a new position in Uniti Group in the 3rd quarter valued at about $75,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Uniti Group during the 4th quarter worth about $78,000. 87.51% of the stock is owned by institutional investors and hedge funds.

Uniti Group Company Profile

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.