West Michigan Advisors LLC Buys New Stake in Ubiquiti Inc. (NYSE:UI)

West Michigan Advisors LLC purchased a new position in Ubiquiti Inc. (NYSE:UI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 885 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds also recently bought and sold shares of the company. Creative Planning increased its stake in Ubiquiti by 51.6% during the third quarter. Creative Planning now owns 4,008 shares of the company’s stock worth $889,000 after acquiring an additional 1,365 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ubiquiti in the 3rd quarter worth approximately $266,000. US Bancorp DE increased its position in shares of Ubiquiti by 3.9% during the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company’s stock valued at $341,000 after purchasing an additional 57 shares during the last quarter. Hanseatic Management Services Inc. purchased a new stake in Ubiquiti during the 3rd quarter valued at $76,000. Finally, Atria Investments Inc bought a new stake in Ubiquiti in the third quarter worth $210,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. BWS Financial reaffirmed a “buy” rating and set a $440.00 price target on shares of Ubiquiti in a research note on Monday, February 10th. Finally, StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th.

Ubiquiti Price Performance

UI opened at $341.70 on Friday. The business has a fifty day moving average of $368.39 and a 200 day moving average of $298.62. The stock has a market cap of $20.67 billion, a P/E ratio of 46.43 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a 52-week low of $104.24 and a 52-week high of $469.98.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company earned $1.36 earnings per share. As a group, sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were paid a $0.60 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.70%. Ubiquiti’s dividend payout ratio is currently 32.61%.

Insiders Place Their Bets

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value 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. This represents a 28.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 93.10% of the company’s stock.

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.