Pallas Capital Advisors LLC Purchases Shares of 683 Ubiquiti Inc. (NYSE:UI)

Pallas Capital Advisors LLC bought a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 683 shares of the company's stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UI. Renaissance Technologies LLC increased its holdings in shares of Ubiquiti by 1.2% during the fourth quarter. Renaissance Technologies LLC now owns 199,964 shares of the company's stock valued at $66,374,000 after purchasing an additional 2,400 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock valued at $37,609,000 after purchasing an additional 102,268 shares during the last quarter. AQR Capital Management LLC lifted its stake in Ubiquiti by 100.1% during the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock valued at $32,927,000 after buying an additional 49,616 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ubiquiti by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock worth $31,369,000 after purchasing an additional 2,294 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Ubiquiti by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock worth $21,197,000 after buying an additional 765 shares during the period. Institutional investors own 4.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on UI. Barclays boosted their price objective 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 reaffirmed a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research report on Monday, May 12th.

Ubiquiti Trading Up 0.1%

NYSE:UI traded up $0.46 during mid-day trading on Tuesday, hitting $380.02. 93,230 shares of the company's stock traded hands, compared to its average volume of 83,220. The firm has a market capitalization of $22.99 billion, a price-to-earnings ratio of 41.85 and a beta of 1.35. The firm has a 50 day moving average of $367.20 and a two-hundred day moving average of $353.48. Ubiquiti Inc. has a 12 month low of $139.06 and a 12 month high of $469.98.

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 of this dividend was Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.63%. Ubiquiti's payout ratio is 26.43%.

Ubiquiti 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.