Ubiquiti Inc. (NYSE:UI) Shares Acquired by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. increased its stake in Ubiquiti Inc. by 76.2% during the first quarter, owning approximately 0.18% of the company valued at $33.79 million.
• Multiple institutional investors exhibited significant increases in their holdings, with Arrowstreet Capital raising its stake by 926.6% in the fourth quarter.
• Ubiquiti recently announced a quarterly dividend of $0.60, representing an annualized dividend of $2.40 and a yield of 0.54%.

Pacer Advisors Inc. increased its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 76.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,934 shares of the company's stock after purchasing an additional 47,109 shares during the quarter. Pacer Advisors Inc. owned 0.18% of Ubiquiti worth $33,785,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Illinois Municipal Retirement Fund acquired a new position in shares of Ubiquiti in the first quarter worth $571,000. Sei Investments Co. acquired a new position in Ubiquiti in the 4th quarter valued at about $1,737,000. Raymond James Financial Inc. purchased a new position in Ubiquiti in the 4th quarter valued at about $1,246,000. BNP Paribas Financial Markets purchased a new position in Ubiquiti in the 4th quarter valued at about $484,000. Finally, Vanguard Group Inc. boosted its stake in shares of Ubiquiti by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock worth $31,369,000 after purchasing an additional 2,294 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Up 2.8%

Shares of NYSE UI traded up $12.57 during trading on Monday, reaching $459.03. 89,845 shares of the stock were exchanged, compared to its average volume of 103,796. The business's 50-day moving average price is $407.77 and its 200 day moving average price is $367.37. Ubiquiti Inc. has a twelve month low of $156.94 and a twelve month high of $469.98. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 50.55 and a beta of 1.34.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a dividend of $0.60 per share. 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 0.52%. Ubiquiti's payout ratio is currently 26.43%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. BWS Financial reiterated a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a report on Friday, July 11th. Barclays increased their price objective on shares of 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.