Pallas Capital Advisors LLC Invests $212,000 in Ubiquiti Inc. (NYSE:UI)

Pallas Capital Advisors LLC acquired a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 683 shares of the company's stock, valued at approximately $212,000.

A number of other institutional investors have also made changes to their positions in UI. Stratos Wealth Partners LTD. bought a new position in shares of Ubiquiti in the fourth quarter worth about $202,000. Choreo LLC bought a new position in shares of Ubiquiti in the fourth quarter worth about $308,000. Principal Securities Inc. increased its stake in shares of Ubiquiti by 89.3% in the fourth quarter. Principal Securities Inc. now owns 229 shares of the company's stock worth $76,000 after purchasing an additional 108 shares during the period. Monument Capital Management bought a new position in shares of Ubiquiti in the fourth quarter worth about $354,000. Finally, CIBC Asset Management Inc increased its stake in shares of Ubiquiti by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,862 shares of the company's stock worth $618,000 after purchasing an additional 94 shares during the period. 4.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays lifted their price objective on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. BWS Financial reissued a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research report on Monday, May 12th.

Ubiquiti Stock Performance

UI stock traded down $14.73 during trading on Friday, reaching $383.02. 96,758 shares of the stock were exchanged, compared to its average volume of 82,992. Ubiquiti Inc. has a twelve month low of $139.06 and a twelve month high of $469.98. The company has a market capitalization of $23.17 billion, a P/E ratio of 52.04 and a beta of 1.35. The stock has a 50 day simple moving average of $363.88 and a 200-day simple moving average of $353.05. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31.

Ubiquiti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were paid a $0.60 dividend. The ex-dividend date was Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.63%. Ubiquiti's dividend payout ratio is currently 26.43%.

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.