Algert Global LLC Sells 1,720 Shares of Ubiquiti Inc. (NYSE:UI)

Algert Global LLC cut its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 45.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,059 shares of the company's stock after selling 1,720 shares during the quarter. Algert Global LLC's holdings in Ubiquiti were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of UI. Barclays PLC increased its position in Ubiquiti by 4,880.2% during the third quarter. Barclays PLC now owns 13,347 shares of the company's stock worth $2,959,000 after buying an additional 13,079 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ubiquiti by 20.4% in the third quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company's stock valued at $6,610,000 after purchasing an additional 5,045 shares during the last quarter. Hanseatic Management Services Inc. grew its position in shares of Ubiquiti by 12.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 384 shares of the company's stock valued at $127,000 after purchasing an additional 41 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Ubiquiti in the fourth quarter valued at about $273,000. Finally, Oxinas Partners Wealth Management LLC acquired a new stake in shares of Ubiquiti in the fourth quarter valued at about $699,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Stock Performance

Shares of NYSE UI traded up $8.58 during mid-day trading on Friday, hitting $429.35. The company had a trading volume of 18,894 shares, compared to its average volume of 102,342. 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 business's 50-day simple moving average is $324.29 and its 200-day simple moving average is $339.94. Ubiquiti Inc. has a 12 month low of $139.06 and a 12 month high of $469.98. The firm has a market cap of $25.97 billion, a P/E ratio of 58.34 and a beta of 1.32.

Ubiquiti (NYSE:UI - Get Free Report) last released its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $1.36 earnings per share. As a group, analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 19th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, May 19th. Ubiquiti's payout ratio is presently 26.43%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research report on Monday. BWS Financial reaffirmed a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research report on Monday.

About Ubiquiti

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.