Insider Buying: Unifi, Inc. (NYSE:UFI) Director Purchases $246,375.00 in Stock

Unifi, Inc. (NYSE:UFI) Director Kenneth G. Langone purchased 12,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $19.71 per share, with a total value of $246,375.00. Following the completion of the acquisition, the director now directly owns 1,213,811 shares of the company’s stock, valued at $23,924,214.81. The transaction was disclosed in a document filed with the SEC, which is available at this link.

NYSE UFI opened at $19.85 on Friday. The stock has a market capitalization of $369.02 million, a P/E ratio of 152.69 and a beta of 0.71. Unifi, Inc. has a 52-week low of $15.90 and a 52-week high of $33.10. The firm has a 50-day moving average price of $18.67 and a 200 day moving average price of $19.78. The company has a quick ratio of 1.76, a current ratio of 3.55 and a debt-to-equity ratio of 0.32.

Unifi (NYSE:UFI) last posted its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $179.49 million during the quarter, compared to analysts’ expectations of $186.90 million. Unifi had a net margin of 0.35% and a return on equity of 0.14%. On average, equities research analysts expect that Unifi, Inc. will post 0.86 earnings per share for the current fiscal year.

Several research analysts recently issued reports on UFI shares. Zacks Investment Research raised shares of Unifi from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday, August 15th. ValuEngine raised shares of Unifi from a “sell” rating to a “hold” rating in a report on Saturday, May 4th.

A number of hedge funds and other institutional investors have recently bought and sold shares of UFI. Asset Planning Services Ltd. purchased a new position in Unifi during the second quarter worth about $28,000. Cutler Group LP raised its holdings in Unifi by 39.0% during the second quarter. Cutler Group LP now owns 2,138 shares of the textile maker’s stock worth $38,000 after purchasing an additional 600 shares in the last quarter. Bank of Montreal Can raised its holdings in Unifi by 164.5% during the first quarter. Bank of Montreal Can now owns 3,074 shares of the textile maker’s stock worth $59,000 after purchasing an additional 1,912 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Unifi by 373.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,252 shares of the textile maker’s stock worth $63,000 after purchasing an additional 2,565 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Unifi during the first quarter worth about $129,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

About Unifi

Unifi, Inc, together with its subsidiaries, manufactures and sells synthetic and recycled products made from polyester and nylon in the United States, Brazil, China, and internationally. The company operates in three segments: Polyester, Nylon, and International. The Polyester segment manufactures and sells polyester plastic bottle flakes, polymer beads, partially oriented yarns, textured, solution and package dyed, twisted, beamed, and draw wound yarns to other yarn manufacturers, and knitters and weavers that produce yarn and/or fabric for the apparel, hosiery, home furnishings, automotive, industrial, and other end-use markets.

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