Millennium Management LLC Has $17.17 Million Stake in Ubiquiti Inc. (NYSE:UI)

Millennium Management LLC trimmed its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,738 shares of the company's stock after selling 9,496 shares during the period. Millennium Management LLC owned approximately 0.09% of Ubiquiti worth $17,173,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of UI. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ubiquiti by 926.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock valued at $37,609,000 after purchasing an additional 102,268 shares in the last quarter. AQR Capital Management LLC raised its holdings in Ubiquiti by 100.1% during the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock worth $32,927,000 after purchasing an additional 49,616 shares during the last quarter. Norges Bank bought a new stake in shares of Ubiquiti in the 4th quarter valued at $16,166,000. Proficio Capital Partners LLC bought a new stake in shares of Ubiquiti in the 4th quarter valued at $15,425,000. Finally, Pacer Advisors Inc. increased its stake in shares of Ubiquiti by 95.0% in the 4th quarter. Pacer Advisors Inc. now owns 61,825 shares of the company's stock valued at $20,522,000 after acquiring an additional 30,118 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Price Performance

UI opened at $393.57 on Thursday. Ubiquiti Inc. has a 12-month low of $139.06 and a 12-month high of $469.98. The company has a market cap of $23.81 billion, a price-to-earnings ratio of 53.47 and a beta of 1.32. The stock has a fifty day simple moving average of $332.89 and a two-hundred day simple moving average of $344.09. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31.

Ubiquiti Announces Dividend

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

Analyst Ratings Changes

UI has been the topic of a number of analyst reports. BWS Financial reaffirmed a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a report on Monday, May 12th. Barclays upped their price target on Ubiquiti from $222.00 to $247.00 and gave the company 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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