Bayforest Capital Ltd Makes New Investment in Ubiquiti Inc. (NYSE:UI)

Key Points

• Bayforest Capital Ltd has invested approximately $201,000 in Ubiquiti Inc., acquiring 649 shares during the first quarter.
• Ubiquiti recently declared a quarterly dividend of $0.60, translating to an annual yield of 0.6% for shareholders.
• Brokerages have differing opinions on Ubiquiti’s stock, with Barclays setting a target price at $247 and BWS Financial rating it as a "buy" with a target of $440.

Bayforest Capital Ltd acquired a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 649 shares of the company's stock, valued at approximately $201,000.

Other institutional investors have also added to or reduced their stakes in the company. Vestcor Inc bought a new position in Ubiquiti in the 1st quarter valued at approximately $704,000. GSA Capital Partners LLP increased its position in Ubiquiti by 10.2% in the 1st quarter. GSA Capital Partners LLP now owns 2,858 shares of the company's stock valued at $886,000 after acquiring an additional 265 shares during the period. Federated Hermes Inc. bought a new position in shares of Ubiquiti during the first quarter valued at $404,000. Meeder Asset Management Inc. acquired a new position in shares of Ubiquiti during the first quarter worth $1,166,000. Finally, TD Asset Management Inc bought a new stake in shares of Ubiquiti in the first quarter worth $34,013,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Stock Performance

UI stock traded up $11.14 during trading on Monday, hitting $438.29. 87,722 shares of the company traded hands, compared to its average volume of 109,432. The company has a 50-day moving average of $411.55 and a 200-day moving average of $369.19. The firm has a market capitalization of $26.51 billion, a PE ratio of 47.04 and a beta of 1.35. Ubiquiti Inc. has a 1 year low of $156.94 and a 1 year high of $473.72.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti's payout ratio is presently 26.43%.

Analyst Upgrades and Downgrades

UI has been the subject of a number of recent analyst reports. BWS Financial reissued a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research report on Friday, July 11th. Barclays boosted their target price on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a report 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.