Traders Buy High Volume of Put Options on Ubiquiti Networks (UBNT)
Ubiquiti Networks, Inc. (NASDAQ:UBNT) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 13,719 put options on the company. This is an increase of 1,047% compared to the typical daily volume of 1,196 put options.
A number of research analysts recently weighed in on UBNT shares. Vetr lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 price target on the stock. in a research report on Monday, June 26th. Deutsche Bank AG raised their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, BidaskClub raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $56.31.
In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the transaction, the insider now directly owns 56,278,181 shares of the company’s stock, valued at $3,447,038,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 70.34% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in UBNT. PNC Financial Services Group Inc. increased its position in shares of Ubiquiti Networks by 4.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after purchasing an additional 80 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Ubiquiti Networks during the 1st quarter valued at about $113,000. Pacer Advisors Inc. increased its position in shares of Ubiquiti Networks by 22.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock valued at $136,000 after purchasing an additional 490 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ubiquiti Networks during the 2nd quarter valued at about $144,000. Finally, Lazard Asset Management LLC increased its position in shares of Ubiquiti Networks by 26.0% during the 1st quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock valued at $185,000 after purchasing an additional 760 shares during the last quarter. 30.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Ubiquiti Networks (NASDAQ:UBNT) opened at 52.18 on Thursday. The stock has a market cap of $4.19 billion, a P/E ratio of 16.89 and a beta of 0.51. Ubiquiti Networks has a 12-month low of $45.71 and a 12-month high of $67.80. The company’s 50-day moving average is $61.27 and its 200-day moving average is $53.03.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The firm had revenue of $228.60 million during the quarter, compared to analyst estimates of $219.14 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ubiquiti Networks will post $3.68 earnings per share for the current year.
Ubiquiti Networks announced that its board has approved a stock buyback plan on Tuesday, September 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the Wireless communications provider to buy up to 18% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
About Ubiquiti Networks
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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