Balyasny Asset Management L.P. Reduces Stake in Ubiquiti Inc. (NYSE:UI)

Balyasny Asset Management L.P. decreased its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 90.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,224 shares of the company's stock after selling 11,098 shares during the period. Balyasny Asset Management L.P.'s holdings in Ubiquiti were worth $406,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of Ubiquiti during the fourth quarter valued at approximately $484,000. Ameriprise Financial Inc. boosted its holdings in shares of Ubiquiti by 98.9% in the 4th quarter. Ameriprise Financial Inc. now owns 19,828 shares of the company's stock worth $6,581,000 after buying an additional 9,858 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Ubiquiti during the fourth quarter valued at about $338,000. Jane Street Group LLC increased its holdings in Ubiquiti by 826.2% during the fourth quarter. Jane Street Group LLC now owns 12,198 shares of the company's stock worth $4,049,000 after buying an additional 10,881 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Ubiquiti by 100.1% in the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock worth $32,927,000 after acquiring an additional 49,616 shares during the period. Institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Performance

Shares of Ubiquiti stock traded down $13.63 during trading hours on Wednesday, reaching $389.79. The company had a trading volume of 63,866 shares, compared to its average volume of 102,895. The firm has a market cap of $23.58 billion, a PE ratio of 52.96 and a beta of 1.32. Ubiquiti Inc. has a one year low of $139.06 and a one year high of $469.98. 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 has a fifty day simple moving average of $331.40 and a 200 day simple moving average of $343.74.

Ubiquiti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, May 19th. Ubiquiti's dividend payout ratio is presently 26.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on UI. Barclays increased their target price on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. BWS Financial restated a "buy" rating and issued a $440.00 target price on shares of Ubiquiti in a research note on Monday, May 12th.

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.