Monument Capital Management Increases Stake in Ubiquiti Inc. $UI

Key Points

• Monument Capital Management significantly increased its stake in Ubiquiti Inc. by 578.0% during the second quarter, owning 8,387 shares valued at approximately $3.45 million.
• Ubiquiti's earnings exceeded expectations, reporting $3.54 EPS for the quarter, which surpassed the consensus estimate of $2.23, alongside a revenue of $759.15 million.
• The company has announced an increase in its quarterly dividend from $0.60 to $0.80, marking a 0.5% yield for shareholders.

Monument Capital Management raised its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 578.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,387 shares of the company's stock after buying an additional 7,150 shares during the period. Monument Capital Management's holdings in Ubiquiti were worth $3,453,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Golden State Wealth Management LLC acquired a new stake in shares of Ubiquiti in the first quarter valued at $25,000. Brooklyn Investment Group grew its stake in Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after purchasing an additional 41 shares in the last quarter. Main Street Group LTD purchased a new stake in Ubiquiti during the 2nd quarter worth about $41,000. Iron Horse Wealth Management LLC acquired a new stake in Ubiquiti in the 2nd quarter valued at about $54,000. Finally, GAMMA Investing LLC boosted its stake in shares of Ubiquiti by 20.5% in the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company's stock valued at $65,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 4.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research note on Friday, August 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of Ubiquiti in a research report on Wednesday. UBS Group set a $600.00 price objective on shares of Ubiquiti in a report on Monday, August 25th. Finally, BWS Financial boosted their target price on shares of Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $499.67.

Ubiquiti Trading Up 1.9%

Shares of NYSE:UI opened at $695.32 on Friday. The firm has a 50 day simple moving average of $555.55 and a 200-day simple moving average of $437.47. Ubiquiti Inc. has a twelve month low of $230.98 and a twelve month high of $705.78. The company has a market capitalization of $42.06 billion, a PE ratio of 59.08 and a beta of 1.44.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, topping the consensus estimate of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The firm had revenue of $759.15 million for the quarter, compared to analyst estimates of $618.80 million. During the same period last year, the business earned $1.74 EPS. As a group, equities research analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Ubiquiti's previous quarterly dividend of $0.60. Ubiquiti's dividend payout ratio (DPR) is presently 27.19%.

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.

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