Pinnacle Associates Ltd. Grows Stock Position in Unifi, Inc. (NYSE:UFI)

Pinnacle Associates Ltd. boosted its stake in shares of Unifi, Inc. (NYSE:UFI) by 10.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 899,771 shares of the textile maker’s stock after buying an additional 84,989 shares during the period. Pinnacle Associates Ltd. owned approximately 4.93% of Unifi worth $5,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC raised its holdings in Unifi by 24.9% during the 1st quarter. Virtu Financial LLC now owns 15,818 shares of the textile maker’s stock valued at $95,000 after buying an additional 3,158 shares during the period. Empowered Funds LLC increased its stake in Unifi by 8.0% in the first quarter. Empowered Funds LLC now owns 32,222 shares of the textile maker’s stock worth $193,000 after purchasing an additional 2,384 shares during the period. Marquette Asset Management LLC increased its stake in Unifi by 23.0% in the first quarter. Marquette Asset Management LLC now owns 61,126 shares of the textile maker’s stock worth $366,000 after purchasing an additional 11,426 shares during the period. Neuberger Berman Group LLC increased its stake in Unifi by 0.8% in the fourth quarter. Neuberger Berman Group LLC now owns 242,630 shares of the textile maker’s stock worth $1,616,000 after purchasing an additional 1,934 shares during the period. Finally, Azarias Capital Management L.P. increased its stake in Unifi by 0.6% in the first quarter. Azarias Capital Management L.P. now owns 1,371,925 shares of the textile maker’s stock worth $8,218,000 after purchasing an additional 8,501 shares during the period. Hedge funds and other institutional investors own 67.67% of the company’s stock.

Unifi Trading Down 2.8 %

UFI stock traded down $0.20 during midday trading on Friday, reaching $6.83. The company’s stock had a trading volume of 49,761 shares, compared to its average volume of 69,693. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.54 and a current ratio of 3.25. The stock has a fifty day simple moving average of $5.96 and a two-hundred day simple moving average of $5.93. Unifi, Inc. has a 1 year low of $5.41 and a 1 year high of $7.91. The firm has a market capitalization of $124.65 million, a price-to-earnings ratio of -2.10, a PEG ratio of 3.59 and a beta of 0.77.

Unifi (NYSE:UFI) last announced its quarterly earnings results on Wednesday, August 21st. The textile maker reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $157.45 million for the quarter, compared to analyst estimates of $156.69 million. Unifi had a negative return on equity of 14.87% and a negative net margin of 8.14%. During the same quarter last year, the firm posted ($0.39) earnings per share. On average, equities research analysts predict that Unifi, Inc. will post 0.12 EPS for the current year.

Unifi Company Profile

Unifi, Inc, together with its subsidiaries, manufactures and sells recycled and synthetic products in the United States, China, Brazil, and internationally. 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.