Unifi (NYSE:UFI) Director Kenneth Langone Acquires 40,451 Shares

Unifi, Inc. (NYSE:UFI) Director Kenneth Langone purchased 40,451 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average cost of $3.50 per share, with a total value of $141,578.50. Following the completion of the acquisition, the director owned 2,466,245 shares in the company, valued at approximately $8,631,857.50. This trade represents a 1.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Unifi Trading Down 5.1%

Unifi stock opened at $3.12 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 3.59. Unifi, Inc. has a fifty-two week low of $2.96 and a fifty-two week high of $6.49. The stock has a market cap of $57.30 million, a P/E ratio of -2.33 and a beta of 0.73. The firm’s fifty day moving average price is $4.05 and its 200-day moving average price is $4.49.

Unifi (NYSE:UFI) last posted its quarterly earnings data on Tuesday, November 4th. The textile maker reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.04. Unifi had a negative return on equity of 21.13% and a negative net margin of 4.30%.The company had revenue of $135.67 million during the quarter, compared to analyst estimates of $140.23 million. Equities research analysts forecast that Unifi, Inc. will post -2.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Unifi to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Unifi in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Unifi

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC bought a new position in Unifi in the third quarter worth about $54,000. Minerva Advisors LLC boosted its position in Unifi by 6.2% during the 3rd quarter. Minerva Advisors LLC now owns 1,152,481 shares of the textile maker’s stock valued at $5,486,000 after acquiring an additional 67,272 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Unifi by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 730,812 shares of the textile maker’s stock worth $3,479,000 after acquiring an additional 21,195 shares during the period. Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Unifi in the 3rd quarter worth approximately $110,000. Finally, Azarias Capital Management L.P. raised its position in shares of Unifi by 20.9% in the 3rd quarter. Azarias Capital Management L.P. now owns 812,558 shares of the textile maker’s stock worth $3,868,000 after acquiring an additional 140,572 shares in the last quarter. 67.67% of the stock is currently owned by institutional investors.

Unifi Company Profile

Unifi, Inc, together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. Its polyester products include partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns.