Short Interest in Ubiquiti Inc. (NYSE:UI) Rises By 99.7%

Key Points

• Ubiquiti Inc. experienced a remarkable 99.7% increase in short interest in July, with a total of 500,400 shares short sold as of July 15th, indicating 11.9% of the company's shares are currently short sold.
• The company recently declared a $0.60 quarterly dividend, representing an annualized yield of 0.5% and a payout ratio of 26.43%.
• Research analysts maintain a mix of ratings on Ubiquiti, with one firm issuing a "buy" rating and a target price of $440.00, while another downgraded its price target to $247.00.

Ubiquiti Inc. (NYSE:UI - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 500,400 shares, anincreaseof99.7% from the June 30th total of 250,600 shares. Currently,11.9% of the company's shares are sold short. Based on an average daily volume of 106,800 shares, the days-to-cover ratio is presently 4.7 days. Based on an average daily volume of 106,800 shares, the days-to-cover ratio is presently 4.7 days. Currently,11.9% of the company's shares are sold short.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company's stock worth $70,521,000 after purchasing an additional 132,816 shares during the last quarter. TD Asset Management Inc acquired a new stake in shares of Ubiquiti during the first quarter worth $34,013,000. Epoch Investment Partners Inc. purchased a new position in shares of Ubiquiti during the first quarter valued at $18,897,000. Norges Bank purchased a new position in shares of Ubiquiti during the fourth quarter valued at $16,166,000. Finally, Pacer Advisors Inc. grew its stake in Ubiquiti by 76.2% in the first quarter. Pacer Advisors Inc. now owns 108,934 shares of the company's stock valued at $33,785,000 after purchasing an additional 47,109 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. BWS Financial reissued a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research report on Friday, July 11th.

Ubiquiti Trading Up 2.2%

Shares of NYSE UI traded up $10.17 during trading on Friday, reaching $470.69. The company had a trading volume of 108,630 shares, compared to its average volume of 102,908. Ubiquiti has a twelve month low of $165.50 and a twelve month high of $480.19. The stock has a market capitalization of $28.47 billion, a PE ratio of 51.84 and a beta of 1.35. The stock has a 50-day moving average price of $416.85 and a two-hundred day moving average price of $370.93.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, May 19th. Ubiquiti's dividend payout ratio is presently 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.