Versor Investments LP Reduces Stock Position in Ubiquiti Inc. $UI

Key Points

• Versor Investments LP has reduced its stake in Ubiquiti Inc. by 17.9%, selling 700 shares and now holding 3,200 shares valued at approximately $992,000.
• Several institutional investors increased their positions in Ubiquiti during the first quarter, with American Century Companies Inc. boosting its stake by 69.0%.
• Equities analysts set a price target range for Ubiquiti, with BWS Financial maintaining a "buy" rating with a target of $440.00 and Barclays raising its target to $247.00 while issuing an "underweight" rating.

Versor Investments LP reduced its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200 shares of the company's stock after selling 700 shares during the period. Versor Investments LP's holdings in Ubiquiti were worth $992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund acquired a new position in shares of Ubiquiti in the 1st quarter valued at about $571,000. Raymond James Financial Inc. acquired a new position in shares of Ubiquiti in the 4th quarter valued at about $1,246,000. Federated Hermes Inc. acquired a new position in shares of Ubiquiti in the 1st quarter valued at about $404,000. Entropy Technologies LP acquired a new position in shares of Ubiquiti in the 1st quarter valued at about $327,000. Finally, SW Investment Management LLC lifted its stake in shares of Ubiquiti by 7.4% in the 1st 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 in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Stock Performance

Shares of NYSE:UI traded up $118.0290 during mid-day trading on Friday, hitting $508.5990. 699,091 shares of the company traded hands, compared to its average volume of 152,024. The firm has a market cap of $30.77 billion, a P/E ratio of 43.21 and a beta of 1.35. Ubiquiti Inc. has a 52-week low of $165.50 and a 52-week high of $514.00. The firm's 50 day simple moving average is $423.25 and its 200 day simple moving average is $372.28.

Ubiquiti (NYSE:UI - Get Free Report) last announced 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. Ubiquiti had a return on equity of 215.74% and a net margin of 27.66%.The business had revenue of $759.15 million for the quarter, compared to the consensus estimate of $618.80 million. During the same period last year, the business posted $1.74 EPS. Equities research analysts expect that Ubiquiti Inc. will post 7.21 EPS 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 issued a dividend of $0.80 per share. This is an increase from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 0.6%. Ubiquiti's payout ratio is currently 26.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UI. Barclays raised their target price on Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a report on Friday. BWS Financial reiterated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $369.50.

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.