Bayforest Capital Ltd Makes New Investment in Ubiquiti Inc. $UI

Key Points

• Bayforest Capital Ltd has acquired 649 shares of Ubiquiti Inc., valued at approximately $201,000, during the first quarter of the year.
$3.54, significantly exceeding the estimated $2.23.
• The company has declared an increased quarterly dividend of $0.80 per share, up from a previous $0.60, indicating a strong payout ratio of 27.19%.

Bayforest Capital Ltd purchased a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 649 shares of the company's stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Ubiquiti in the first quarter worth about $25,000. Brooklyn Investment Group lifted its stake in shares of Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after buying an additional 41 shares in the last quarter. Versant Capital Management Inc raised its stake in 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 purchasing an additional 92 shares during the period. Lazard Asset Management LLC purchased a new position in Ubiquiti during the fourth quarter worth about $74,000. Finally, AlphaQuest LLC raised its stake in Ubiquiti by 14,300.0% during the first quarter. AlphaQuest LLC now owns 288 shares of the company's stock worth $89,000 after purchasing an additional 286 shares during the period. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Trading Up 1.6%

UI traded up $9.83 during trading hours on Monday, hitting $614.61. 119,993 shares of the company's stock were exchanged, compared to its average volume of 118,438. Ubiquiti Inc. has a 12-month low of $201.26 and a 12-month high of $621.09. The firm has a 50 day moving average of $472.18 and a 200 day moving average of $395.06. The firm has a market cap of $37.18 billion, a P/E ratio of 52.22 and a beta of 1.42.

Ubiquiti (NYSE:UI - Get Free Report) last announced its earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The firm had revenue of $759.15 million for the quarter, compared to the consensus estimate of $618.80 million. During the same period in the prior year, the firm earned $1.74 EPS. As a group, research analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Ubiquiti's previous quarterly dividend of $0.60. Ubiquiti's payout ratio is currently 27.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on UI shares. BWS Financial lifted their target price on shares of Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Barclays lifted their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research note on Friday, August 22nd. Finally, UBS Group set a $600.00 target price on shares of Ubiquiti in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $499.67.

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.