Willis Investment Counsel Decreases Holdings in Ubiquiti Inc. (NYSE:UI)

Willis Investment Counsel lessened its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,602 shares of the company's stock after selling 762 shares during the period. Willis Investment Counsel's holdings in Ubiquiti were worth $807,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in UI. Arrowstreet Capital Limited Partnership boosted its stake in Ubiquiti by 926.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after purchasing an additional 102,268 shares during the period. AQR Capital Management LLC boosted its stake in Ubiquiti by 100.1% in the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock worth $32,927,000 after purchasing an additional 49,616 shares during the period. Norges Bank bought a new position in Ubiquiti in the 4th quarter worth about $16,166,000. Proficio Capital Partners LLC bought a new position in Ubiquiti in the 4th quarter worth about $15,425,000. Finally, GAMMA Investing LLC boosted its stake in Ubiquiti by 37,116.4% in the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock worth $12,697,000 after purchasing an additional 40,828 shares during the period. Hedge funds and other institutional investors own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays raised their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. BWS Financial reaffirmed a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a report on Monday, May 12th.

Ubiquiti Price Performance

Shares of NYSE:UI traded down $2.89 on Monday, hitting $379.81. The company's stock had a trading volume of 95,805 shares, compared to its average volume of 83,044. The company has a 50-day simple moving average of $365.83 and a 200 day simple moving average of $353.29. Ubiquiti Inc. has a 1 year low of $139.06 and a 1 year high of $469.98. The company has a market capitalization of $22.98 billion, a PE ratio of 51.60 and a beta of 1.35. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued 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 0.63%. Ubiquiti's dividend payout ratio is 26.43%.

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.