Acadian Asset Management LLC cut its holdings in Ubiquiti Networks Inc (NASDAQ:UBNT) by 41.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,381 shares of the Wireless communications provider’s stock after selling 9,472 shares during the period. Acadian Asset Management LLC’s holdings in Ubiquiti Networks were worth $1,323,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new stake in Ubiquiti Networks during the 3rd quarter worth approximately $178,000. First Trust Advisors LP increased its position in Ubiquiti Networks by 683.1% during the 3rd quarter. First Trust Advisors LP now owns 429,092 shares of the Wireless communications provider’s stock worth $42,420,000 after purchasing an additional 374,299 shares in the last quarter. First Hawaiian Bank acquired a new stake in Ubiquiti Networks during the 3rd quarter worth approximately $530,000. Zweig DiMenna Associates LLC acquired a new stake in Ubiquiti Networks during the 3rd quarter worth approximately $267,000. Finally, Daiwa SB Investments Ltd. increased its position in Ubiquiti Networks by 60.8% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 73,957 shares of the Wireless communications provider’s stock worth $7,311,000 after purchasing an additional 27,963 shares in the last quarter. Institutional investors and hedge funds own 27.10% of the company’s stock.

Shares of NASDAQ:UBNT opened at $106.69 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 8.87 and a quick ratio of 7.96. Ubiquiti Networks Inc has a 52-week low of $49.40 and a 52-week high of $112.38. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.33 and a beta of 1.11.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Friday, November 9th. The Wireless communications provider reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.34. Ubiquiti Networks had a net margin of 19.64% and a return on equity of 82.12%. The company had revenue of $282.90 million during the quarter, compared to the consensus estimate of $270.60 million. During the same quarter last year, the company earned $0.92 earnings per share. Ubiquiti Networks’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts anticipate that Ubiquiti Networks Inc will post 3.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 19th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, November 16th. Ubiquiti Networks’s dividend payout ratio (DPR) is 27.32%.

In other Ubiquiti Networks news, VP Benjamin Moore sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $87.91, for a total value of $8,791,000.00. Following the completion of the sale, the vice president now owns 673,206 shares of the company’s stock, valued at $59,181,539.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 78.70% of the stock is owned by company insiders.

A number of analysts recently issued reports on the stock. JMP Securities reissued a “hold” rating on shares of Ubiquiti Networks in a research report on Tuesday. BMO Capital Markets increased their target price on shares of Ubiquiti Networks to $99.00 and gave the stock a “market perform” rating in a research report on Monday. Credit Suisse Group set a $86.00 price objective on shares of Ubiquiti Networks and gave the company a “hold” rating in a research report on Monday. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 2nd. Finally, Bank of America increased their price objective on shares of Ubiquiti Networks from $52.50 to $62.00 and gave the company an “underperform” rating in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $79.96.

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About Ubiquiti Networks

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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Institutional Ownership by Quarter for Ubiquiti Networks (NASDAQ:UBNT)

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