Man Group plc Buys 16,973 Shares of Ubiquiti Inc. (NYSE:UI)

Man Group plc grew its holdings in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 295.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,713 shares of the company's stock after buying an additional 16,973 shares during the period. Man Group plc's holdings in Ubiquiti were worth $7,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of UI. Caprock Group LLC grew its position in Ubiquiti by 2.3% in the 4th quarter. Caprock Group LLC now owns 1,085 shares of the company's stock valued at $360,000 after acquiring an additional 24 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Ubiquiti by 10.4% during the 4th quarter. National Bank of Canada FI now owns 350 shares of the company's stock worth $116,000 after acquiring an additional 33 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Ubiquiti by 47.0% during the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after buying an additional 39 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Ubiquiti by 30.2% during the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after buying an additional 39 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Up 0.2%

NYSE UI traded up $0.91 on Friday, reaching $393.18. The company had a trading volume of 59,818 shares, compared to its average volume of 82,160. The company's fifty day moving average is $335.92 and its 200-day moving average is $347.12. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. Ubiquiti Inc. has a 1-year low of $139.06 and a 1-year high of $469.98. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 53.42 and a beta of 1.32.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th will be paid a $0.60 dividend. The ex-dividend date is Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a yield of 0.61%. Ubiquiti's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analyst Weigh In

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

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.