Convergence Investment Partners LLC Invests $2.18 Million in Ubiquiti Inc. (NYSE:UI)

Convergence Investment Partners LLC bought a new position in Ubiquiti Inc. (NYSE:UI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,569 shares of the company’s stock, valued at approximately $2,180,000.

Several other large investors have also recently modified their holdings of UI. Pacer Advisors Inc. grew its stake in Ubiquiti by 95.0% during the fourth quarter. Pacer Advisors Inc. now owns 61,825 shares of the company’s stock valued at $20,522,000 after acquiring an additional 30,118 shares in the last quarter. Zacks Investment Management purchased a new position in Ubiquiti during the third quarter valued at approximately $8,892,000. JPMorgan Chase & Co. grew its stake in Ubiquiti by 20.4% during the third quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company’s stock valued at $6,610,000 after acquiring an additional 5,045 shares in the last quarter. Tidal Investments LLC grew its stake in Ubiquiti by 13.3% during the third quarter. Tidal Investments LLC now owns 18,505 shares of the company’s stock valued at $4,103,000 after acquiring an additional 2,174 shares in the last quarter. Finally, Barclays PLC grew its stake in Ubiquiti by 4,880.2% during the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $2,959,000 after acquiring an additional 13,079 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Insider Transactions at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the sale, the chief accounting officer now directly owns 2,484 shares in the company, valued at approximately $864,407.16. The trade was a 28.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 93.10% of the company’s stock.

Ubiquiti Trading Down 1.0 %

Shares of Ubiquiti stock opened at $337.75 on Wednesday. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $469.98. The firm has a market cap of $20.43 billion, a PE ratio of 45.89 and a beta of 1.14. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The company has a 50 day simple moving average of $369.77 and a two-hundred day simple moving average of $290.43.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same quarter last year, the firm earned $1.36 earnings per share. Analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th will be issued a $0.60 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.71%. Ubiquiti’s payout ratio is 32.61%.

Analyst Ratings Changes

Several equities analysts recently commented on UI shares. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. Barclays reduced their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. Finally, BWS Financial reiterated a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a research report on Monday, February 10th.

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.