G2 Investment Partners Management LLC Makes New $1.33 Million Investment in Ubiquiti Inc. (NYSE:UI)

G2 Investment Partners Management LLC bought a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 4,016 shares of the company's stock, valued at approximately $1,333,000.

Several other hedge funds have also added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in shares of Ubiquiti by 1.2% in the fourth quarter. Renaissance Technologies LLC now owns 199,964 shares of the company's stock worth $66,374,000 after buying an additional 2,400 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Ubiquiti by 926.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after acquiring an additional 102,268 shares during the last quarter. AQR Capital Management LLC increased 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. Vanguard Group Inc. lifted its position in Ubiquiti by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock valued at $31,369,000 after purchasing an additional 2,294 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ubiquiti by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock valued at $21,197,000 after purchasing an additional 765 shares during the period. 4.00% of the stock is owned by institutional investors.

Ubiquiti Trading Down 6.8%

UI stock traded down $30.95 on Wednesday, reaching $425.74. The company's stock had a trading volume of 117,798 shares, compared to its average volume of 82,038. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The business has a fifty day simple moving average of $319.86 and a two-hundred day simple moving average of $338.25. The firm has a market cap of $25.75 billion, a PE ratio of 57.85 and a beta of 1.32. Ubiquiti Inc. has a 12-month low of $134.72 and a 12-month high of $469.98.

Ubiquiti (NYSE:UI - Get Free Report) last posted its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter in the prior year, the business posted $1.36 EPS. As a group, research analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, May 19th. Ubiquiti's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analysts Forecast Growth

UI has been the topic of several analyst reports. Barclays lifted their target price on shares of Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday. BWS Financial reiterated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a report on Monday.

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.