Ubiquiti Inc. (NYSE:UI) Stock Holdings Lessened by Quest Partners LLC

Quest Partners LLC lessened its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 64.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 987 shares of the company’s stock after selling 1,802 shares during the period. Quest Partners LLC’s holdings in Ubiquiti were worth $144,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. CIBC Asset Management Inc acquired a new position in Ubiquiti during the 2nd quarter valued at about $249,000. nVerses Capital LLC bought a new position in Ubiquiti in the 2nd quarter worth approximately $44,000. Bank of New York Mellon Corp increased its position in Ubiquiti by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock valued at $20,349,000 after acquiring an additional 2,041 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Ubiquiti during the 2nd quarter valued at $241,000. Finally, Alpha Cubed Investments LLC acquired a new position in Ubiquiti during the 2nd quarter worth $407,000. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Price Performance

Shares of Ubiquiti stock opened at $204.33 on Tuesday. Ubiquiti Inc. has a 52 week low of $103.00 and a 52 week high of $210.00. 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’s 50-day moving average price is $179.44 and its two-hundred day moving average price is $145.28. The stock has a market cap of $12.36 billion, a PE ratio of 35.29 and a beta of 1.16.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The business had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. Ubiquiti’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ubiquiti’s dividend payout ratio is 41.45%.

Wall Street Analyst Weigh In

UI has been the topic of a number of recent analyst reports. StockNews.com cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. BWS Financial upped their price target on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Barclays lowered their price objective on shares of 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.