M&T Bank Corp trimmed its position in shares of Ubiquiti Inc. (NYSE:UI – Free Report) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,095 shares of the company’s stock after selling 40 shares during the period. M&T Bank Corp’s holdings in Ubiquiti were worth $364,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Ubiquiti during the 4th quarter valued at about $15,425,000. Zacks Investment Management purchased a new stake in shares of Ubiquiti during the third quarter worth about $8,892,000. Pacer Advisors Inc. acquired a new position in shares of Ubiquiti during the third quarter valued at about $7,030,000. Los Angeles Capital Management LLC purchased a new position in shares of Ubiquiti in the 4th quarter valued at approximately $8,619,000. Finally, Barclays PLC boosted its stake in Ubiquiti by 4,880.2% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after purchasing an additional 13,079 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on UI shares. StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. BWS Financial reissued a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a report on Monday, February 10th. Finally, Barclays reduced their target price on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research note on Monday, February 10th.
Insider Activity
In related news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 2,484 shares of the company’s stock, valued at approximately $864,407.16. This represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 93.10% of the company’s stock.
Ubiquiti Price Performance
Shares of NYSE:UI opened at $319.31 on Friday. Ubiquiti Inc. has a twelve month low of $104.24 and a twelve month high of $469.98. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The company has a market cap of $19.32 billion, a PE ratio of 43.39 and a beta of 1.12. The company’s 50 day moving average is $363.00 and its 200 day moving average is $307.01.
Ubiquiti (NYSE:UI – Get Free Report) last released its quarterly earnings data 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 net margin of 20.68% and a return on equity of 296.82%. During the same period last year, the company earned $1.36 EPS. On average, sell-side analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current year.
Ubiquiti Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were paid 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 0.75%. Ubiquiti’s payout ratio is currently 32.61%.
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.
See Also
- Five stocks we like better than Ubiquiti
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Rubrik Stock’s V-Bottom Reversal Signals a Major Rally Ahead
- The 3 Best Retail Stocks to Shop for in August
- How Super Micro Computer Stock Is Defying the Market Sell-Off
- How to buy stock: A step-by-step guide for beginners
- AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?
Want to see what other hedge funds are holding UI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ubiquiti Inc. (NYSE:UI – Free Report).
Receive News & Ratings for Ubiquiti Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti and related companies with MarketBeat.com's FREE daily email newsletter.