Unifi UFI Receives Downgrade to Sell from StockNews.com

StockNews.com has adjusted its rating for Unifi, Inc. NYSE:UFI, moving the manufacturer's stock from a 'hold' to a 'sell' status. The revision of the rating was disseminated in an announcement following the close of trading last Friday.

Latest Valuation Metrics and Market Performance

Unifi's shares began trading at $6.64 on the opening bell on Friday. The company bears a market capitalization of roughly $120.05 million, while its Price-to-Earnings (P/E) ratio stands at -2.31, and the beta is 0.84. Unifi displays a fifty-day moving average at $6.74 and a two-hundred-day average at $7.40. The firm's share prices have varied from a 1-year low of $5.85 to a peak of $10.53.

Unifi's Corporate Filings and Insider Movements

As per its latest earnings release dated August 24th, Unifi reported an earnings per share (EPS) of ($0.39) for the quarter, surpassing the consensus estimate of ($0.47) by $0.08. Revenue reported was $151.06 million against the forecasted $147.89 million. Nonetheless, the company endured a negative net margin of 8.88% and a return on equity of -14.39%. Analysts now anticipate Unifi will close the fiscal year with an EPS of -1.5.

An insider transaction involved Director Kenneth G. Langone, who purchased 4,800 shares at an average price of $7.00 each, amounting to $33,600.00 in total. This transaction increased his holdings to 1,803,402 shares valued at approximately $12,623,814. There were additional acquisitions by the Director, including a purchase of 7,198 shares at $6.75 per share, culminating in ownership of 1,798,602 company shares after the transaction. Records indicate that within the past three months, insiders have bought 13,000 shares totaling $88,870. Insiders now own 12.85% of Unifi stock.

Hedge Fund Activity and Institutional Ownership

Unifi's shareholder landscape has experienced modifications as various hedge funds adjusted their stock positions. Boston Partners increased their stake by 9.6%, now holding 79,413 shares. Minerva Advisors LLC and Russell Investments Group Ltd. also saw changes in their holdings, with the former initiating a new position and the latter increasing its share count by 9.4%. Azarias Capital Management L.P. took its stake up by 9.3%, holding a total of 813,281 shares. Institutional investors represent 68.47% of Unifi's ownership.

About Unifi

Unifi, Inc., headquartered in Greensboro, North Carolina, is at the forefront of producing synthetic and recycled polyester and nylon goods for a global clientele. The company maintains operations across the United States, Brazil, China, and other international markets, emphasizing the development of high-quality, innovative textile solutions.

Unifi, downgrade, sell