Unum Group ($UNM) Stock Forecast: Down 1.9% Today

What is Unum Group?

Unum Group (UNM) is a company listed on the NYSE and saw a notable decrease in its stock price today.

Why is Unum Group going down?

UNM stock is down 1.9% on Sep 11, 2024 14:36

• There has been a substantial surge in short interest for UNM, with 3.93 million shares sold short, accounting for 2.8% of all regular shares available for trading.
• The heightened short interest reflects a pessimistic outlook from traders, exerting downward pressure on the stock's value.
• It would take traders around 2.94 days to cover their short positions, indicating a high level of negative speculation surrounding UNM.
• The increase in short interest may stem from concerns regarding the company's performance or external market conditions impacting UNM's stock price adversely.

UNM Price Chart

UNM News

( UNM ) - Analyzing Unum Gr's Short Interest - Unum Gr ( NYSE:UNM )

Unum Gr's UNM short percent of float has risen 14.75% since its last report. The company recently reported that it has 3.93 million shares sold short, which is 2.8% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.94 days to cover their ...

https://www.benzinga.com/insights/short-sellers/24/09/40750106/unm-analyzing-unum-grs-short-interest

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Unum Group Price History

11.08.2024 - UNM Stock was down 1.9%

• There has been a substantial surge in short interest for UNM, with 3.93 million shares sold short, accounting for 2.8% of all regular shares available for trading.
• The heightened short interest reflects a pessimistic outlook from traders, exerting downward pressure on the stock's value.
• It would take traders around 2.94 days to cover their short positions, indicating a high level of negative speculation surrounding UNM.
• The increase in short interest may stem from concerns regarding the company's performance or external market conditions impacting UNM's stock price adversely.

01.10.2023 - UNM Stock was down 7.3%

• The bearish movement in UNM stock today could be attributed to the following factors:
• 1. Decline in Q3 Profit: The reported fall in Q3 profit might have negatively impacted investor sentiment, leading to a bearish movement in the stock.
• 2. Revenue Miss: Despite beating non-GAAP EPS estimates, UNM's revenue fell short of expectations. This could have contributed to the bearish market movement.
• 3. Share Repurchase Program: The announcement of a new share repurchase program, while potentially positive in the long term, may have raised concerns among investors about the company's financial position and allocation of capital.
• 4. Overall Market Sentiment: It's also important to consider the broader market conditions and sentiment, as external factors can influence the movement of individual stocks. If the overall market was experiencing a bearish trend, it could have further contributed to the decline in UNM stock.

02.10.2023 - UNM Stock was down 5.7%

• The bearish movement in UNM stock today can be attributed to the following factors:
• 1. Earnings Call Transcript: The Q3 2023 earnings call transcript suggests that investors may have been disappointed with the company's performance or outlook, leading to a sell-off in the stock.
• 2. Decreased Profit: The report of a fall in Q3 profit compared to the previous year could have negatively impacted investor sentiment and contributed to the bearish movement.
• 3. Missed Revenue Expectations: Unum Group's Q3 2023 revenue missed expectations by $20M. This could have raised concerns about the company's ability to generate sufficient revenue, leading to a decline in the stock price.
• 4. Mixed Earnings Results: While the non-GAAP EPS beat estimates by $0.03, the missed revenue and decreased profit may have overshadowed this positive aspect, causing investors to sell their shares.
• Overall, the bearish movement in UNM stock today can be attributed to disappointing earnings, decreased profit, and missed revenue expectations. These factors likely influenced investor sentiment and led to a decline in the stock price.