Ubiquiti Inc. $UI Shares Sold by Oxinas Partners Wealth Management LLC

Key Points

• Oxinas Partners Wealth Management LLC reduced its stake in Ubiquiti Inc. by 41.8% in Q2, selling 807 shares, leaving them with a total of 1,125 shares valued at $463,000.
• Ubiquiti recently announced an increased quarterly dividend of $0.80, marking a rise from its previous dividend of $0.60, with a yield of 0.5%.
• The company exceeded earnings expectations, reporting an EPS of $3.54 for the latest quarter, significantly surpassing estimates of $2.23.

Oxinas Partners Wealth Management LLC cut its holdings in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 41.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,125 shares of the company's stock after selling 807 shares during the quarter. Oxinas Partners Wealth Management LLC's holdings in Ubiquiti were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in Ubiquiti during the first quarter worth about $25,000. Brooklyn Investment Group raised its stake in shares of Ubiquiti by 78.8% in the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Ubiquiti by 484.2% in the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after acquiring an additional 92 shares during the last quarter. Main Street Group LTD purchased a new position in shares of Ubiquiti during the 2nd quarter worth approximately $41,000. Finally, GAMMA Investing LLC increased its holdings in 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 purchasing an additional 27 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Trading Down 2.6%

Shares of NYSE UI opened at $638.40 on Thursday. The stock has a market cap of $38.62 billion, a P/E ratio of 54.24 and a beta of 1.42. Ubiquiti Inc. has a 12-month low of $215.39 and a 12-month high of $657.12. The business's fifty day simple moving average is $507.00 and its 200-day simple moving average is $410.69.

Ubiquiti (NYSE:UI - Get Free Report) last released its 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 firm had revenue of $759.15 million during the quarter, compared to analysts' expectations of $618.80 million. During the same period in the previous year, the firm posted $1.74 EPS. On average, equities analysts forecast 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. Investors of record on Tuesday, September 2nd were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.5%. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, September 2nd. Ubiquiti's dividend payout ratio is 27.19%.

Analyst Ratings Changes

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

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.

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