M&T Bank Corp Cuts Stock Position in Ubiquiti Inc. (NYSE:UI)

M&T Bank Corp trimmed its position in shares of Ubiquiti Inc. (NYSE:UI) 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) 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.