Bayforest Capital Ltd Sells 407 Shares of Ubiquiti Inc. $UI

Bayforest Capital Ltd lowered its stake in Ubiquiti Inc. (NYSE:UI) by 62.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 242 shares of the company’s stock after selling 407 shares during the quarter. Bayforest Capital Ltd’s holdings in Ubiquiti were worth $100,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SW Investment Management LLC grew its holdings in Ubiquiti by 7.4% in the first quarter. SW Investment Management LLC now owns 290,000 shares of the company’s stock worth $89,941,000 after purchasing an additional 20,000 shares during the period. AQR Capital Management LLC boosted its position in shares of Ubiquiti by 133.9% during 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 in the last quarter. TD Asset Management Inc bought a new stake in Ubiquiti in the 1st quarter valued at about $34,013,000. Pacer Advisors Inc. raised its stake in Ubiquiti by 76.2% during the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock worth $33,785,000 after buying an additional 47,109 shares during the period. Finally, Epoch Investment Partners Inc. bought a new position in Ubiquiti in the first quarter worth approximately $18,897,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Stock Down 0.6%

Shares of NYSE:UI opened at $749.67 on Friday. The business’s 50 day moving average is $588.80 and its 200 day moving average is $454.56. Ubiquiti Inc. has a 12-month low of $245.00 and a 12-month high of $773.95. The stock has a market cap of $45.35 billion, a price-to-earnings ratio of 63.69 and a beta of 1.44.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The business had revenue of $759.15 million for the quarter, compared to analysts’ expectations of $618.80 million. During the same period last year, the business earned $1.74 EPS. As a group, equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. This is a boost from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s dividend payout ratio (DPR) is presently 27.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Ubiquiti in a report on Wednesday, October 8th. UBS Group set a $600.00 price objective on shares of Ubiquiti in a report on Monday, August 25th. Finally, BWS Financial boosted their target price on shares of Ubiquiti from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $539.67.

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.