Abacus FCF Advisors LLC Acquires 28,726 Shares of Ubiquiti Inc. (NYSE:UI)

Abacus FCF Advisors LLC lifted its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 654.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,116 shares of the company's stock after purchasing an additional 28,726 shares during the quarter. Ubiquiti accounts for about 1.6% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 28th largest holding. Abacus FCF Advisors LLC owned 0.05% of Ubiquiti worth $10,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in UI. Versant Capital Management Inc raised its holdings in shares of Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after acquiring an additional 92 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Ubiquiti by 47.0% in the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after acquiring an additional 39 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Ubiquiti by 71.1% in the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after purchasing an additional 54 shares during the period. Blue Trust Inc. lifted its holdings in shares of Ubiquiti by 78.8% during the fourth quarter. Blue Trust Inc. now owns 143 shares of the company's stock worth $47,000 after buying an additional 63 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Ubiquiti by 30.2% during the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after purchasing an additional 39 shares during the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Trading Down 0.9%

UI stock traded down $3.53 during midday trading on Thursday, reaching $397.43. The company's stock had a trading volume of 69,661 shares, compared to its average volume of 82,518. The stock has a market cap of $24.04 billion, a PE ratio of 54.00 and a beta of 1.35. The business's 50-day simple moving average is $359.51 and its 200-day simple moving average is $352.63. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a 52 week low of $139.06 and a 52 week high of $469.98.

Ubiquiti Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti's dividend payout ratio (DPR) is presently 26.43%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UI. BWS Financial reissued a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a report on Monday, May 12th. Barclays raised their target price on Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating 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.