Point72 Hong Kong Ltd Buys Shares of 2,198 Ubiquiti Inc. (NYSE:UI)

Point72 Hong Kong Ltd bought a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,198 shares of the company's stock, valued at approximately $730,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UI. Renaissance Technologies LLC grew its holdings in Ubiquiti by 1.2% during the fourth quarter. Renaissance Technologies LLC now owns 199,964 shares of the company's stock worth $66,374,000 after acquiring an additional 2,400 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Ubiquiti by 926.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock valued at $37,609,000 after purchasing an additional 102,268 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of 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 last quarter. Vanguard Group Inc. raised its holdings in shares of Ubiquiti by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock worth $31,369,000 after purchasing an additional 2,294 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Trading Down 3.8%

Shares of UI traded down $15.46 during midday trading on Wednesday, hitting $387.96. The stock had a trading volume of 36,430 shares, compared to its average volume of 81,842. The business has a 50-day simple moving average of $331.40 and a two-hundred day simple moving average of $343.74. The firm has a market cap of $23.47 billion, a P/E ratio of 52.71 and a beta of 1.32. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a fifty-two week low of $139.06 and a fifty-two week high of $469.98.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 19th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Monday, May 19th. Ubiquiti's dividend payout ratio is currently 26.43%.

Analyst Ratings Changes

UI has been the topic of several recent research reports. BWS Financial restated a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research report on Monday, May 12th. Barclays lifted their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a report on Monday, May 12th.

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.