Zacks Investment Management Buys 3,397 Shares of Ubiquiti Inc. (NYSE:UI)

Zacks Investment Management lifted its stake in Ubiquiti Inc. (NYSE:UI) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,501 shares of the company’s stock after purchasing an additional 3,397 shares during the quarter. Zacks Investment Management’s holdings in Ubiquiti were worth $14,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in Ubiquiti by 926.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company’s stock worth $37,609,000 after buying an additional 102,268 shares during the last quarter. Norges Bank purchased a new position in Ubiquiti in the 4th quarter worth approximately $16,166,000. Proficio Capital Partners LLC bought a new position in Ubiquiti in the 4th quarter valued at approximately $15,425,000. Pacer Advisors Inc. boosted its stake in Ubiquiti by 95.0% during the 4th quarter. Pacer Advisors Inc. now owns 61,825 shares of the company’s stock valued at $20,522,000 after purchasing an additional 30,118 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of Ubiquiti in the 4th quarter worth $9,274,000. 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 business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 approximately $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 93.10% of the company’s stock.

Ubiquiti Trading Down 3.0 %

NYSE:UI opened at $306.61 on Thursday. The company has a 50 day simple moving average of $318.63 and a two-hundred day simple moving average of $324.48. The company has a market cap of $18.55 billion, a PE ratio of 41.66 and a beta of 1.31. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $469.98.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping the consensus estimate 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 last year, the company earned $1.36 earnings per share. Research analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Announces Dividend

The firm 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. This represents a $2.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti’s payout ratio is currently 32.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays lowered their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. BWS Financial restated a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a research note on Friday, April 4th.

About Ubiquiti

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.