Creative Planning Grows Holdings in Ubiquiti Inc. (NYSE:UI)

Creative Planning boosted its stake in Ubiquiti Inc. (NYSE:UI) by 51.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,008 shares of the company’s stock after acquiring an additional 1,365 shares during the period. Creative Planning’s holdings in Ubiquiti were worth $889,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in shares of Ubiquiti in the 2nd quarter valued at $44,000. Covestor Ltd increased its stake in Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after purchasing an additional 116 shares in the last quarter. EntryPoint Capital LLC increased its stake in Ubiquiti by 123.4% during the 1st quarter. EntryPoint Capital LLC now owns 735 shares of the company’s stock valued at $85,000 after purchasing an additional 406 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Ubiquiti in the third quarter worth approximately $222,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Ubiquiti in the second quarter worth approximately $241,000. Institutional investors own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on UI shares. BWS Financial lifted their price target on shares of Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Barclays cut their price objective on shares of Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 27th.

Ubiquiti Price Performance

Shares of NYSE:UI opened at $270.41 on Friday. The company has a market cap of $16.35 billion, a PE ratio of 46.70 and a beta of 1.16. Ubiquiti Inc. has a twelve month low of $103.00 and a twelve month high of $272.85. The company’s 50 day moving average is $223.34 and its 200 day moving average is $174.08. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The firm had revenue of $507.50 million during the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that Ubiquiti Inc. will post 7.09 EPS for the current year.

Ubiquiti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ubiquiti’s dividend payout ratio is presently 41.45%.

Ubiquiti Profile

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.