Man Group plc Boosts Position in Ubiquiti Inc. (NYSE:UI)

Man Group plc boosted its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 295.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,713 shares of the company's stock after acquiring an additional 16,973 shares during the quarter. Man Group plc's holdings in Ubiquiti were worth $7,539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Occudo Quantitative Strategies LP purchased a new stake in Ubiquiti during the fourth quarter valued at $411,000. Lazard Asset Management LLC purchased a new stake in Ubiquiti during the fourth quarter valued at $74,000. Jacobs Levy Equity Management Inc. purchased a new stake in Ubiquiti in the fourth quarter worth about $6,251,000. Gotham Asset Management LLC increased its position in Ubiquiti by 3.8% in the fourth quarter. Gotham Asset Management LLC now owns 32,296 shares of the company's stock worth $10,720,000 after buying an additional 1,184 shares in the last quarter. Finally, G2 Investment Partners Management LLC purchased a new stake in Ubiquiti in the fourth quarter worth about $1,333,000. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Performance

Shares of UI opened at $428.63 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. The business has a 50-day simple moving average of $329.38 and a two-hundred day simple moving average of $343.32. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 58.24 and a beta of 1.32. Ubiquiti Inc. has a 52 week low of $139.06 and a 52 week high of $469.98.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same period in the previous year, the business earned $1.36 earnings per share. On average, analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 19th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, May 19th. Ubiquiti's dividend payout ratio is currently 26.43%.

Analysts Set New Price Targets

A number of analysts have commented on UI shares. BWS Financial restated a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research report on Monday, May 12th. Barclays upped their price target on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research 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.

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