Convergence Investment Partners LLC lessened its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 41.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,857 shares of the company's stock after selling 2,712 shares during the period. Convergence Investment Partners LLC's holdings in Ubiquiti were worth $1,196,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in UI. Raymond James Financial Inc. purchased a new position in shares of Ubiquiti in the 4th quarter valued at about $1,246,000. HighTower Advisors LLC purchased a new position in Ubiquiti during the 4th quarter valued at about $1,531,000. Xponance Inc. purchased a new position in Ubiquiti during the 4th quarter valued at about $253,000. Quantbot Technologies LP purchased a new position in Ubiquiti during the 4th quarter valued at about $932,000. Finally, Virtu Financial LLC purchased a new position in Ubiquiti during the 4th quarter valued at about $419,000. Institutional investors and hedge funds own 4.00% of the company's stock.
Ubiquiti Stock Down 0.4%
Shares of UI traded down $2.00 during mid-day trading on Friday, hitting $445.38. The company had a trading volume of 63,289 shares, compared to its average volume of 112,587. The business's 50-day simple moving average is $407.77 and its 200-day simple moving average is $367.22. Ubiquiti Inc. has a 1-year low of $156.94 and a 1-year high of $469.98. The stock has a market cap of $26.94 billion, a PE ratio of 49.05 and a beta of 1.34.
Ubiquiti Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were given a $0.60 dividend. The ex-dividend date was Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.54%. Ubiquiti's dividend payout ratio is presently 26.43%.
Wall Street Analyst Weigh In
Several research firms have issued reports on UI. BWS Financial reaffirmed a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a research note on Friday, July 11th. Barclays raised their price target on shares of Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th.
View Our Latest Stock Analysis on UI
About Ubiquiti
(
Free Report)
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.
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