Pacer Advisors Inc. Buys Shares of 31,707 Ubiquiti Inc. (NYSE:UI)

Pacer Advisors Inc. purchased a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 31,707 shares of the company's stock, valued at approximately $7,030,000. Pacer Advisors Inc. owned about 0.05% of Ubiquiti as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of Ubiquiti by 86.2% in the second quarter. Millennium Management LLC now owns 58,349 shares of the company's stock worth $8,499,000 after acquiring an additional 27,011 shares during the last quarter. SW Investment Management LLC lifted its holdings in Ubiquiti by 9.1% in the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company's stock valued at $43,698,000 after purchasing an additional 25,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ubiquiti by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 97,817 shares of the company's stock worth $11,332,000 after purchasing an additional 18,986 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Ubiquiti by 88.8% during the 2nd quarter. AQR Capital Management LLC now owns 23,546 shares of the company's stock worth $3,372,000 after purchasing an additional 11,076 shares during the last quarter. Finally, Maverick Capital Ltd. raised its position in shares of Ubiquiti by 76.3% in the second quarter. Maverick Capital Ltd. now owns 19,093 shares of the company's stock valued at $2,781,000 after buying an additional 8,264 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on UI shares. BWS Financial lifted their target price on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. StockNews.com raised shares of Ubiquiti from a "hold" rating to a "buy" rating in a research note on Sunday, November 17th. Finally, Barclays raised their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th.

Ubiquiti Trading Up 3.7 %

UI stock traded up $12.76 during trading on Friday, reaching $358.48. 78,624 shares of the stock traded hands, compared to its average volume of 91,098. The firm has a market capitalization of $21.68 billion, a PE ratio of 55.49 and a beta of 1.13. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32. The business's 50 day moving average price is $260.68 and its 200-day moving average price is $197.16. Ubiquiti Inc. has a 52-week low of $104.24 and a 52-week high of $361.60.

Ubiquiti (NYSE:UI - Get Free Report) last posted its earnings results on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.17). The business had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. Ubiquiti's revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ubiquiti Inc. will post 7.09 earnings per share for the current year.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Monday, November 18th. Ubiquiti's dividend payout ratio is presently 37.15%.

Ubiquiti Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.