Balboa Wealth Partners Buys New Position in Ubiquiti Inc. (NYSE:UI)

Balboa Wealth Partners bought a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,434 shares of the company's stock, valued at approximately $1,065,000.

A number of other institutional investors have also added to or reduced their stakes in UI. Versant Capital Management Inc raised its holdings in Ubiquiti by 484.2% in the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after purchasing an additional 92 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Ubiquiti by 47.0% in the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC grew 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 acquiring an additional 54 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Ubiquiti by 30.2% in the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock worth $56,000 after acquiring an additional 39 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Ubiquiti in the fourth quarter worth $74,000. Institutional investors own 4.00% of the company's stock.

Ubiquiti Trading Up 5.0%

NYSE UI opened at $389.23 on Tuesday. Ubiquiti Inc. has a 12 month low of $140.26 and a 12 month high of $469.98. The stock has a market cap of $23.54 billion, a P/E ratio of 42.87 and a beta of 1.35. The stock's fifty day moving average price is $372.91 and its 200-day moving average price is $354.40.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date was Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.62%. Ubiquiti's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UI. Barclays increased their target price 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 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.

Want to see what other hedge funds are holding UI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ubiquiti Inc. (NYSE:UI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.