6,523 Ubiquiti Inc. $UI Shares Bought by Mather Group LLC.

Key Points

• Mather Group LLC increased its Ubiquiti stake by 136.8% in the third quarter, purchasing 6,523 additional shares and bringing its holdings to 11,293 shares worth approximately $6.4 million.
• Ubiquiti reported quarterly earnings of $4.73 per share, beating estimates by $0.70, while revenue of $937.32 million exceeded forecasts. The company also raised its quarterly dividend to $1.00, implying a 0.6% annual yield.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $734.50 price target; UI shares recently opened at $618.29.

Mather Group LLC. grew its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 136.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,293 shares of the company's stock after purchasing an additional 6,523 shares during the quarter. Mather Group LLC.'s holdings in Ubiquiti were worth $6,409,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vision Retirement LLC acquired a new position in shares of Ubiquiti during the 1st quarter worth approximately $25,000. Fortitude Family Office LLC lifted its stake in Ubiquiti by 109.5% in the 3rd quarter. Fortitude Family Office LLC now owns 44 shares of the company's stock valued at $25,000 after buying an additional 23 shares in the last quarter. Compass Financial Management LLC acquired a new stake in Ubiquiti during the 2nd quarter valued at $35,000. Pinnacle Holdings LLC acquired a new stake in Ubiquiti during the 2nd quarter valued at $49,000. Finally, CX Institutional acquired a new stake in Ubiquiti during the 3rd quarter valued at $51,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 2.1%

UI stock opened at $618.29 on Friday. The stock has a market capitalization of $37.43 billion, a price-to-earnings ratio of 38.25 and a beta of 1.30. Ubiquiti Inc. has a 52-week low of $500.23 and a 52-week high of $1,099.99. The stock's fifty day simple moving average is $585.05 and its 200-day simple moving average is $649.00.

Ubiquiti (NYSE:UI - Get Free Report) last released its earnings results on Friday, August 21st. The company reported $4.73 EPS for the quarter, beating the consensus estimate of $4.03 by $0.70. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%. The firm had revenue of $937.32 million during the quarter, compared to analyst estimates of $850.50 million. During the same period in the prior year, the firm posted $4.41 earnings per share. As a group, analysts anticipate that Ubiquiti Inc. will post 16.94 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st were issued a $1.00 dividend. This is a positive change from Ubiquiti's previous quarterly dividend of $0.80. The ex-dividend date was Monday, August 31st. This represents a $4.00 annualized dividend and a yield of 0.6%. Ubiquiti's dividend payout ratio (DPR) is presently 25.24%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on UI shares. BWS Financial reissued a "buy" rating and set a $980.00 price target on shares of Ubiquiti in a research report on Tuesday, September 29th. Weiss Ratings upgraded Ubiquiti from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Barclays reduced their price objective on Ubiquiti from $672.00 to $489.00 and set an "underweight" rating on the stock in a research report on Monday, August 24th. Finally, Zacks Research raised Ubiquiti from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $734.50.

About Ubiquiti

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.

Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.

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