Alps Advisors Inc. bought a new stake in Ubiquiti Networks Inc (NASDAQ:UBNT) during the 2nd quarter, Holdings Channel reports. The fund bought 8,061 shares of the Wireless communications provider’s stock, valued at approximately $572,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Guggenheim Capital LLC grew its stake in Ubiquiti Networks by 3.4% in the first quarter. Guggenheim Capital LLC now owns 19,835 shares of the Wireless communications provider’s stock valued at $1,364,000 after purchasing an additional 645 shares during the last quarter. Stifel Financial Corp grew its stake in Ubiquiti Networks by 1.2% in the first quarter. Stifel Financial Corp now owns 59,347 shares of the Wireless communications provider’s stock valued at $4,087,000 after purchasing an additional 700 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in Ubiquiti Networks by 48.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,182 shares of the Wireless communications provider’s stock valued at $185,000 after purchasing an additional 714 shares during the last quarter. Sheets Smith Wealth Management grew its stake in Ubiquiti Networks by 15.9% in the second quarter. Sheets Smith Wealth Management now owns 5,321 shares of the Wireless communications provider’s stock valued at $451,000 after purchasing an additional 730 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in Ubiquiti Networks by 28.0% in the first quarter. Xact Kapitalforvaltning AB now owns 3,658 shares of the Wireless communications provider’s stock worth $252,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 26.03% of the company’s stock.
Shares of NASDAQ UBNT opened at $89.62 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 8.87 and a quick ratio of 6.08. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. Ubiquiti Networks Inc has a fifty-two week low of $47.78 and a fifty-two week high of $92.95.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Friday, August 24th. The Wireless communications provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $269.80 million during the quarter, compared to the consensus estimate of $256.03 million. Ubiquiti Networks had a return on equity of 69.24% and a net margin of 19.30%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. equities analysts anticipate that Ubiquiti Networks Inc will post 3.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Tuesday, September 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, August 31st. Ubiquiti Networks’s dividend payout ratio is presently 27.32%.
In related news, VP Benjamin Moore sold 100,000 shares of Ubiquiti Networks stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $87.91, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 70.34% of the company’s stock.
UBNT has been the subject of several recent analyst reports. Credit Suisse Group set a $79.00 price target on Ubiquiti Networks and gave the stock a “hold” rating in a report on Monday, August 27th. BidaskClub raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Zacks Investment Research downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. TheStreet raised Ubiquiti Networks from a “c+” rating to a “b+” rating in a report on Wednesday, May 23rd. Finally, ValuEngine downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Ubiquiti Networks has an average rating of “Buy” and a consensus target price of $78.35.
Ubiquiti Networks Profile
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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