Invenomic Capital Management LP Decreases Stake in Unifi, Inc. (NYSE:UFI)

Invenomic Capital Management LP reduced its stake in Unifi, Inc. (NYSE:UFI) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,014 shares of the textile maker’s stock after selling 59,675 shares during the period. Invenomic Capital Management LP owned about 2.81% of Unifi worth $3,206,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Unifi by 5,775.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,163 shares of the textile maker’s stock worth $82,000 after purchasing an additional 10,973 shares during the period. Barclays PLC increased its stake in shares of Unifi by 778.3% during the third quarter. Barclays PLC now owns 11,479 shares of the textile maker’s stock valued at $85,000 after buying an additional 10,172 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Unifi by 53.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 23,000 shares of the textile maker’s stock valued at $144,000 after buying an additional 8,000 shares during the period. Northern Trust Corp increased its stake in shares of Unifi by 22.4% during the fourth quarter. Northern Trust Corp now owns 65,179 shares of the textile maker’s stock valued at $407,000 after buying an additional 11,919 shares during the period. Finally, 22NW LP purchased a new position in shares of Unifi during the fourth quarter valued at approximately $1,461,000. 67.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Unifi from a “hold” rating to a “sell” rating in a research note on Thursday.

Unifi Price Performance

UFI opened at $4.68 on Monday. The stock has a market capitalization of $85.93 million, a PE ratio of -2.56 and a beta of 0.63. The stock’s 50 day moving average price is $4.94 and its 200-day moving average price is $5.53. Unifi, Inc. has a 52-week low of $4.25 and a 52-week high of $7.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.46 and a current ratio of 3.44.

Unifi (NYSE:UFI) last issued its quarterly earnings results on Wednesday, April 30th. The textile maker reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $146.56 million for the quarter, compared to analysts’ expectations of $145.28 million. Unifi had a negative return on equity of 14.49% and a negative net margin of 5.62%. On average, equities research analysts predict that Unifi, Inc. will post -2.25 EPS for the current year.

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.