Caxton Associates LLP Invests $1.84 Million in Ubiquiti Inc. $UI

Key Points

• Caxton Associates LLP acquired 5,947 shares of Ubiquiti Inc., valued at approximately $1,844,000, in its most recent 13F filing.
• Ubiquiti's stock price has seen significant movement, with Barclays raising its price target from $247 to $299, while UBS set a target of $600.
• Ubiquiti recently increased its quarterly dividend from $0.60 to $0.80 per share, reflecting a 27.19% payout ratio.

Caxton Associates LLP acquired a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,947 shares of the company's stock, valued at approximately $1,844,000.

Several other hedge funds also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Ubiquiti by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,836 shares of the company's stock valued at $10,494,000 after acquiring an additional 8,551 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Ubiquiti by 139.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 45,142 shares of the company's stock valued at $14,000,000 after acquiring an additional 26,309 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Ubiquiti by 10.4% in the 1st quarter. Gotham Asset Management LLC now owns 35,662 shares of the company's stock valued at $11,060,000 after acquiring an additional 3,366 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company's stock valued at $70,521,000 after acquiring an additional 132,816 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Ubiquiti in the 1st quarter valued at about $1,293,000. Institutional investors own 4.00% of the company's stock.

Analyst Upgrades and Downgrades

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

Ubiquiti Stock Performance

Ubiquiti stock traded down $8.17 during midday trading on Friday, reaching $604.69. 158,140 shares of the company's stock were exchanged, compared to its average volume of 213,499. Ubiquiti Inc. has a 52 week low of $201.26 and a 52 week high of $621.09. The firm has a market cap of $36.58 billion, a price-to-earnings ratio of 51.38 and a beta of 1.42. The stock's 50-day simple moving average is $472.18 and its 200 day simple moving average is $395.06.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The company had revenue of $759.15 million during the quarter, compared to analysts' expectations of $618.80 million. During the same quarter in the previous year, the company posted $1.74 earnings per share. Research analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.80 per share. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Ubiquiti's dividend payout ratio is presently 27.19%.

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.