Abacus FCF Advisors LLC Purchases New Position in Ubiquiti Inc. (NYSE:UI)

Abacus FCF Advisors LLC acquired a new position in Ubiquiti Inc. (NYSE:UI) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 4,390 shares of the company’s stock, valued at approximately $1,457,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UI. Renaissance Technologies LLC lifted its stake in Ubiquiti by 1.2% during the 4th quarter. Renaissance Technologies LLC now owns 199,964 shares of the company’s stock valued at $66,374,000 after acquiring an additional 2,400 shares during the period. Bank of Montreal Can lifted its position in Ubiquiti by 12.5% during the fourth quarter. Bank of Montreal Can now owns 1,208 shares of the company’s stock valued at $401,000 after purchasing an additional 134 shares during the period. Polymer Capital Management US LLC purchased a new stake in Ubiquiti in the fourth quarter worth approximately $278,000. Cerity Partners LLC grew its position in Ubiquiti by 13.3% in the 4th quarter. Cerity Partners LLC now owns 1,369 shares of the company’s stock worth $414,000 after purchasing an additional 161 shares during the period. Finally, Sierra Summit Advisors LLC purchased a new stake in Ubiquiti during the 4th quarter valued at $549,000. 4.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

UI has been the topic of a number of research reports. BWS Financial restated a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Friday, April 4th. Barclays reduced their price target on shares of Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research report on Monday, February 10th.

Insider Buying and Selling at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was 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 $864,407.16. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 93.10% of the company’s stock.

Ubiquiti Trading Up 0.4 %

Shares of UI stock opened at $282.49 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 38.38 and a beta of 1.31. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $469.98. The firm has a fifty day moving average price of $332.77 and a 200-day moving average price of $321.56.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, equities analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Announces Dividend

The company also recently announced 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti’s payout ratio is 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.