Arrowstreet Capital Limited Partnership Grows Stock Holdings in Ubiquiti Inc. (NYSE:UI)

Arrowstreet Capital Limited Partnership raised its stake in Ubiquiti Inc. (NYSE:UI) by 926.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,305 shares of the company’s stock after buying an additional 102,268 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.19% of Ubiquiti worth $37,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Ubiquiti by 47.0% in the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock worth $40,000 after buying an additional 39 shares in the last quarter. Venturi Wealth Management LLC raised its position in Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock worth $43,000 after acquiring an additional 54 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Ubiquiti by 78.8% in the fourth quarter. Blue Trust Inc. now owns 143 shares of the company’s stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Financial Perspectives Inc grew its position in shares of Ubiquiti by 152.2% in the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock valued at $56,000 after purchasing an additional 102 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in shares of Ubiquiti by 89.3% during the 4th quarter. Principal Securities Inc. now owns 229 shares of the company’s stock worth $76,000 after purchasing an additional 108 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UI has been the topic of a number of analyst reports. BWS Financial reiterated a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a report on Monday, February 10th. Barclays decreased their price objective on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th.

Ubiquiti Stock Performance

Shares of UI opened at $325.74 on Thursday. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $469.98. The company’s 50 day simple moving average is $345.36 and its 200 day simple moving average is $319.07. The company has a market capitalization of $19.70 billion, a price-to-earnings ratio of 44.26 and a beta of 1.12. 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) last issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping 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 quarter last year, the firm posted $1.36 EPS. On average, sell-side analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Tuesday, February 18th. Ubiquiti’s dividend payout ratio is currently 32.61%.

Insider Transactions at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 2,484 shares in the company, valued at $864,407.16. This represents a 28.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 93.10% of the company’s stock.

Ubiquiti Company 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.