Quantbot Technologies LP Grows Position in Ubiquiti Inc. $UI

Key Points

• Quantbot Technologies LP increased its stake in Ubiquiti Inc. by 43.9% in the first quarter, owning 4,043 shares valued at approximately $1.25 million.
• Ubiquiti reported a quarterly earnings per share (EPS) of $3.54, significantly exceeding analysts' expectations of $2.23, with revenues of $759.15 million.
• The company has declared a quarterly dividend of $0.80 per share, up from its previous $0.60, reflecting a strong financial position.

Quantbot Technologies LP lifted its stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 43.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,043 shares of the company's stock after buying an additional 1,234 shares during the quarter. Quantbot Technologies LP's holdings in Ubiquiti were worth $1,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in UI. Golden State Wealth Management LLC purchased a new stake in Ubiquiti during the first quarter worth approximately $25,000. Brooklyn Investment Group boosted its holdings in Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Versant Capital Management Inc boosted its holdings in 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. Lazard Asset Management LLC acquired a new position in Ubiquiti in the fourth quarter valued at approximately $74,000. Finally, New Age Alpha Advisors LLC acquired a new position in Ubiquiti in the first quarter valued at approximately $92,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group set a $600.00 price target on Ubiquiti in a report on Monday. Barclays upped their price target on Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a report on Friday, August 22nd. Finally, BWS Financial upped their price target on Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a report on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $499.67.

Ubiquiti Trading Down 0.7%

Shares of Ubiquiti stock traded down $3.88 during trading hours on Thursday, hitting $520.44. 115,273 shares of the company were exchanged, compared to its average volume of 113,016. Ubiquiti Inc. has a 1 year low of $186.40 and a 1 year high of $543.99. The business has a 50-day moving average of $432.13 and a 200-day moving average of $375.34. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 44.22 and a beta of 1.35.

Ubiquiti (NYSE:UI - Get Free Report) last released 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 return on equity of 166.22% and a net margin of 27.66%.The business had revenue of $759.15 million during the quarter, compared to analysts' expectations of $618.80 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. As a group, research analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be given a $0.80 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 0.6%. Ubiquiti's dividend payout ratio (DPR) is currently 20.39%.

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.