Meeder Asset Management Inc. Takes Position in Ubiquiti Inc. (NYSE:UI)

Meeder Asset Management Inc. purchased a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,760 shares of the company's stock, valued at approximately $1,166,000.

Several other institutional investors and hedge funds also recently made changes to their positions in UI. Golden State Wealth Management LLC bought a new position in shares of Ubiquiti in the first quarter valued at approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of Ubiquiti by 484.2% in the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Ubiquiti by 30.2% in the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after purchasing an additional 39 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Ubiquiti in the fourth quarter valued at approximately $74,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of Ubiquiti by 49.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 235 shares of the company's stock valued at $78,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company's stock.

Analyst Upgrades and Downgrades

UI has been the topic of several research reports. BWS Financial restated a "buy" rating and issued a $440.00 target price on shares of Ubiquiti in a research note on Friday, July 11th. Barclays upped their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th.

Ubiquiti Stock Down 1.9%

Shares of NYSE:UI traded down $8.24 during trading on Friday, hitting $427.23. The stock had a trading volume of 104,715 shares, compared to its average volume of 104,197. Ubiquiti Inc. has a 12 month low of $156.94 and a 12 month high of $473.72. The company has a market capitalization of $25.84 billion, a PE ratio of 47.05 and a beta of 1.35. The firm's fifty day moving average is $411.55 and its 200 day moving average is $369.76.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Ubiquiti's dividend payout ratio (DPR) is presently 26.43%.

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.