Ubiquiti Inc. $UI Shares Bought by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its stake in Ubiquiti Inc. by 67.3%, holding a total of 1,143 shares valued at approximately $471,000.
• Ubiquiti's stock saw a notable performance with a quarterly earnings of $3.54 per share, exceeding estimates, and a revenue of $759.15 million against a predicted $618.80 million.
• The company recently raised its quarterly dividend from $0.60 to $0.80 per share, indicating a positive shift in its financial strategy.

Pallas Capital Advisors LLC grew its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 67.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,143 shares of the company's stock after purchasing an additional 460 shares during the period. Pallas Capital Advisors LLC's holdings in Ubiquiti were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. SW Investment Management LLC increased its holdings in shares of Ubiquiti by 7.4% in the first quarter. SW Investment Management LLC now owns 290,000 shares of the company's stock valued at $89,941,000 after purchasing an additional 20,000 shares during the period. AQR Capital Management LLC increased its holdings in shares of Ubiquiti by 133.9% in the first quarter. AQR Capital Management LLC now owns 232,015 shares of the company's stock valued at $70,521,000 after purchasing an additional 132,816 shares during the period. TD Asset Management Inc acquired a new position in shares of Ubiquiti in the first quarter valued at approximately $34,013,000. Pacer Advisors Inc. increased its holdings in shares of Ubiquiti by 76.2% in the first quarter. Pacer Advisors Inc. now owns 108,934 shares of the company's stock valued at $33,785,000 after purchasing an additional 47,109 shares during the period. Finally, Epoch Investment Partners Inc. purchased a new stake in shares of Ubiquiti in the first quarter valued at approximately $18,897,000. Institutional investors and hedge funds own 4.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on UI shares. UBS Group set a $600.00 price target on Ubiquiti in a research note on Monday, August 25th. Barclays lifted their price target on Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a research note on Friday, August 22nd. Finally, BWS Financial lifted their price target on Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, August 25th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $499.67.

Ubiquiti Trading Up 1.0%

Shares of NYSE:UI traded up $6.65 on Tuesday, hitting $648.79. The company had a trading volume of 140,342 shares, compared to its average volume of 119,947. The company has a market cap of $39.25 billion, a PE ratio of 55.12 and a beta of 1.42. The business has a 50 day moving average of $497.75 and a 200 day moving average of $407.38. Ubiquiti Inc. has a 52-week low of $215.39 and a 52-week high of $657.12.

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

Ubiquiti Increases Dividend

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

Ubiquiti Company 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.