Unifi, Inc. (NYSE:UFI) Short Interest Update

Unifi, Inc. (NYSE:UFI) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 470,300 shares, a drop of 15.4% from the July 31st total of 555,800 shares. Based on an average daily trading volume, of 81,100 shares, the short-interest ratio is presently 5.8 days. Approximately 2.9% of the shares of the stock are short sold.

Unifi stock traded up $0.91 during trading hours on Friday, reaching $23.87. The company had a trading volume of 119,035 shares, compared to its average volume of 98,571. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.55 and a quick ratio of 1.76. The company has a 50-day moving average price of $19.28 and a 200 day moving average price of $19.53. The firm has a market cap of $414.73 million, a price-to-earnings ratio of 183.62 and a beta of 0.70. Unifi has a 12-month low of $15.90 and a 12-month high of $30.20.

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

Separately, Zacks Investment Research raised Unifi from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Thursday, August 15th.

In other news, insider Spring Master Fund L. Valueact acquired 115,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $18.80 per share, with a total value of $2,162,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kenneth G. Langone acquired 12,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $18.42 per share, for a total transaction of $230,250.00. Following the completion of the acquisition, the director now owns 1,182,500 shares in the company, valued at approximately $21,781,650. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 228,841 shares of company stock worth $4,385,065. 22.41% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. increased its stake in Unifi by 48.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 133,200 shares of the textile maker’s stock worth $2,420,000 after purchasing an additional 43,456 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Unifi in the 2nd quarter worth approximately $208,000. Morgan Stanley increased its stake in Unifi by 170.0% in the 2nd quarter. Morgan Stanley now owns 104,518 shares of the textile maker’s stock worth $1,899,000 after purchasing an additional 65,813 shares during the period. ValueAct Holdings L.P. increased its stake in Unifi by 14.8% in the 2nd quarter. ValueAct Holdings L.P. now owns 1,298,402 shares of the textile maker’s stock worth $23,592,000 after purchasing an additional 167,500 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Unifi by 41.8% during the second quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the textile maker’s stock valued at $829,000 after buying an additional 13,447 shares during the period. 80.99% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Return on Investment (ROI)

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