Los Angeles Capital Management LLC bought a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,965 shares of the company's stock, valued at approximately $8,619,000.
A number of other hedge funds have also recently modified their holdings of UI. Creative Planning grew its position in Ubiquiti by 51.6% in the 3rd quarter. Creative Planning now owns 4,008 shares of the company's stock valued at $889,000 after buying an additional 1,365 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Ubiquiti in the 3rd quarter valued at about $266,000. US Bancorp DE grew its holdings in shares of Ubiquiti by 3.9% during the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company's stock worth $341,000 after purchasing an additional 57 shares during the period. Hanseatic Management Services Inc. purchased a new position in Ubiquiti in the 3rd quarter worth approximately $76,000. Finally, Atria Investments Inc acquired a new position in shares of Ubiquiti in the 3rd quarter valued at approximately $210,000. Hedge funds and other institutional investors own 4.00% of the company's stock.
Insider Transactions at Ubiquiti
In related news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the transaction, the chief accounting officer now owns 2,484 shares of the company's stock, valued at $864,407.16. This represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 93.10% of the company's stock.
Wall Street Analyst Weigh In
UI has been the subject of a number of recent research reports. Barclays lowered their price objective on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. StockNews.com raised Ubiquiti from a "hold" rating to a "buy" rating in a research note on Sunday, November 17th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research report on Monday, February 10th.
Get Our Latest Analysis on Ubiquiti
Ubiquiti Stock Up 2.7 %
NYSE UI traded up $9.04 during trading hours on Friday, hitting $341.70. 90,575 shares of the company traded hands, compared to its average volume of 107,592. Ubiquiti Inc. has a twelve month low of $104.24 and a twelve month high of $469.98. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of 46.43 and a beta of 1.14. The business's 50-day moving average is $368.39 and its 200-day moving average is $298.62. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22.
Ubiquiti (NYSE:UI - Get Free Report) last issued its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same period in the prior year, the firm posted $1.36 EPS. Sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current year.
Ubiquiti Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti's dividend payout ratio is currently 32.61%.
About Ubiquiti
(
Free Report)
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.
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