Rhumbline Advisers Sells 271 Shares of Ubiquiti Inc. (NYSE:UI)

Rhumbline Advisers decreased its position in Ubiquiti Inc. (NYSE:UI) by 5.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,711 shares of the company’s stock after selling 271 shares during the period. Rhumbline Advisers’ holdings in Ubiquiti were worth $686,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in Ubiquiti by 435.0% in the 4th quarter. Quadrant Capital Group LLC now owns 214 shares of the company’s stock valued at $30,000 after acquiring an additional 174 shares during the period. Parallel Advisors LLC raised its position in shares of Ubiquiti by 116.5% in the 4th quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after buying an additional 120 shares in the last quarter. nVerses Capital LLC bought a new stake in Ubiquiti during the second quarter worth $44,000. Fairman Group LLC acquired a new stake in Ubiquiti in the fourth quarter valued at about $52,000. Finally, Covestor Ltd increased its position in Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Performance

NYSE UI opened at $219.63 on Wednesday. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. The company has a fifty day simple moving average of $185.77 and a 200 day simple moving average of $149.46. The company has a market cap of $13.28 billion, a P/E ratio of 37.93 and a beta of 1.16. Ubiquiti Inc. has a 12-month low of $103.00 and a 12-month high of $221.22.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.17). Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The firm had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts predict that Ubiquiti Inc. will post 7.09 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 1.09%. Ubiquiti’s dividend payout ratio (DPR) is currently 41.45%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com cut Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. BWS Financial lifted their price objective on Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Barclays dropped their price objective on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 27th.

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.