Kenneth Langone Buys 40,451 Shares of Unifi (NYSE:UFI) Stock

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

Unifi Stock Performance

UFI opened at $3.12 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.59 and a quick ratio of 1.68. The business has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $4.49. Unifi, Inc. has a 1 year low of $2.96 and a 1 year high of $6.49. The company has a market capitalization of $57.30 million, a PE ratio of -2.33 and a beta of 0.73.

Unifi (NYSE:UFI) last posted its quarterly earnings data on Tuesday, November 4th. The textile maker reported ($0.56) earnings per share for the quarter, topping 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 firm had revenue of $135.67 million for the quarter, compared to analysts’ expectations of $140.23 million. Research analysts expect that Unifi, Inc. will post -2.25 EPS for the current year.

Institutional Investors Weigh In On Unifi

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC bought a new position in Unifi in the 3rd quarter valued at about $54,000. Jane Street Group LLC acquired a new stake in shares of Unifi during the 1st quarter worth approximately $64,000. XTX Topco Ltd bought a new position in Unifi in the second quarter valued at approximately $80,000. Assenagon Asset Management S.A. acquired a new position in Unifi during the third quarter valued at approximately $92,000. Finally, Goldman Sachs Group Inc. acquired a new position in Unifi during the first quarter valued at approximately $96,000. 67.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on UFI shares. Wall Street Zen upgraded shares of Unifi to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Unifi in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

About Unifi

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.