West Michigan Advisors LLC Purchases Shares of 885 Ubiquiti Inc. (NYSE:UI)

West Michigan Advisors LLC purchased a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 885 shares of the company's stock, valued at approximately $294,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Versor Investments LP lifted its stake in Ubiquiti by 254.5% in the fourth quarter. Versor Investments LP now owns 3,900 shares of the company's stock valued at $1,295,000 after purchasing an additional 2,800 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Ubiquiti in the fourth quarter valued at $15,425,000. Los Angeles Capital Management LLC purchased a new position in shares of Ubiquiti during the 4th quarter valued at $8,619,000. Ieq Capital LLC grew its stake in shares of Ubiquiti by 169.8% during the 4th quarter. Ieq Capital LLC now owns 5,565 shares of the company's stock worth $1,847,000 after acquiring an additional 3,502 shares during the period. Finally, Financial Perspectives Inc increased its holdings in Ubiquiti by 152.2% in the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company's stock worth $56,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 4.00% of the company's stock.

Insider Buying and Selling

In other news, CAO Kevin Radigan sold 1,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total transaction of $347,990.00. Following the completion of the transaction, the chief accounting officer now owns 2,484 shares of the company's stock, valued at approximately $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 93.10% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several equities research analysts have commented on UI shares. StockNews.com raised shares of Ubiquiti from a "hold" rating to a "buy" rating in a report on Sunday, November 17th. BWS Financial restated a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a research note on Monday, February 10th. Finally, Barclays reduced their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research note on Monday, February 10th.

Ubiquiti Price Performance

NYSE UI traded up $8.92 during trading hours on Wednesday, hitting $332.15. The company had a trading volume of 77,585 shares, compared to its average volume of 77,671. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The firm has a market capitalization of $20.09 billion, a price-to-earnings ratio of 45.13 and a beta of 1.12. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $469.98. The firm has a 50 day simple moving average of $367.16 and a 200 day simple moving average of $301.80.

Ubiquiti (NYSE:UI - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same period last year, the company earned $1.36 earnings per share. Equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.72%. Ubiquiti's dividend payout ratio (DPR) is currently 32.61%.

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.