8,256 Shares in Ubiquiti Inc. $UI Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC purchased a new stake in shares of Ubiquiti Inc. (NYSE:UI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,256 shares of the company’s stock, valued at approximately $3,399,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SW Investment Management LLC lifted its position in shares of Ubiquiti by 7.4% during the 1st 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 last quarter. AQR Capital Management LLC grew its holdings in Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock valued at $70,521,000 after buying an additional 132,816 shares during the last quarter. TD Asset Management Inc bought a new position in Ubiquiti in the 1st quarter worth approximately $34,013,000. Pacer Advisors Inc. lifted its holdings in shares of Ubiquiti by 76.2% during the first 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 last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ubiquiti by 4.6% in the second quarter. Geode Capital Management LLC now owns 70,152 shares of the company’s stock valued at $28,886,000 after acquiring an additional 3,094 shares during the period. 4.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. BWS Financial restated a “buy” rating and set a $720.00 price objective on shares of Ubiquiti in a report on Tuesday, November 11th. Zacks Research lowered shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded Ubiquiti from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Barclays boosted their price target on Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued 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 price target of $591.67.

Insider Buying and Selling

In other Ubiquiti news, CAO Kevin Radigan sold 350 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $576.58, for a total value of $201,803.00. Following the sale, the chief accounting officer directly owned 2,768 shares in the company, valued at $1,595,973.44. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 93.10% of the stock is currently owned by corporate insiders.

Ubiquiti Stock Performance

NYSE:UI opened at $541.38 on Tuesday. The company has a 50-day moving average of $673.46 and a 200-day moving average of $515.09. The company has a market capitalization of $32.75 billion, a price-to-earnings ratio of 46.00 and a beta of 1.50. Ubiquiti Inc. has a 52 week low of $255.00 and a 52 week high of $803.59.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, November 7th. The company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.98. The business had revenue of $733.77 million for the quarter, compared to analysts’ expectations of $702.38 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. Sell-side analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.20 annualized dividend and a yield of 0.6%. Ubiquiti’s payout ratio is currently 24.46%.

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.