CIBC Asset Management Inc Makes New $324,000 Investment in Ubiquiti Inc. (NYSE:UI)

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CIBC Asset Management Inc acquired a new position in Ubiquiti Inc. (NYSE:UI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,741 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors also recently added to or reduced their stakes in UI. Flagship Harbor Advisors LLC purchased a new stake in Ubiquiti in the 3rd quarter worth approximately $54,000. Valeo Financial Advisors LLC purchased a new stake in Ubiquiti in the 3rd quarter worth approximately $119,000. FTB Advisors Inc. purchased a new stake in Ubiquiti in the 3rd quarter worth approximately $237,000. Great West Life Assurance Co. Can purchased a new stake in Ubiquiti in the 3rd quarter worth approximately $786,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Ubiquiti during the 3rd quarter valued at approximately $980,000. Institutional investors and hedge funds own 20.09% of the company’s stock.

A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Ubiquiti from a “buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a research report on Monday, October 28th. BWS Financial assumed coverage on Ubiquiti in a research report on Wednesday, October 9th. They set a “buy” rating on the stock. Finally, ValuEngine lowered Ubiquiti from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th.

Shares of NYSE:UI opened at $176.74 on Friday. Ubiquiti Inc. has a 1 year low of $92.08 and a 1 year high of $177.65. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.49 and a beta of 1.24. The company has a quick ratio of 2.73, a current ratio of 4.21 and a debt-to-equity ratio of 4.68. The company’s 50 day simple moving average is $123.11.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, November 8th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.16. Ubiquiti had a return on equity of 206.17% and a net margin of 27.78%. The firm had revenue of $323.30 million for the quarter, compared to analyst estimates of $307.95 million. During the same quarter last year, the firm posted $1.17 EPS. The business’s revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that Ubiquiti Inc. will post 5.52 earnings per share for the current year.

The firm also recently announced a dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 15th. Ubiquiti’s dividend payout ratio (DPR) is 25.32%.

Ubiquiti Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers worldwide. It 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 enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

Further Reading: Market Indexes

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Institutional Ownership by Quarter for Ubiquiti (NYSE:UI)

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