Atria Investments Inc Acquires New Holdings in Ubiquiti Inc. (NYSE:UI)

Atria Investments Inc bought a new stake in Ubiquiti Inc. (NYSE:UI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 946 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UI. SW Investment Management LLC boosted its holdings in shares of Ubiquiti by 9.1% in the second quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock worth $43,698,000 after buying an additional 25,000 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Ubiquiti by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock worth $20,349,000 after purchasing an additional 2,041 shares during the period. Vanguard Group Inc. increased its position in Ubiquiti by 24.1% during the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock worth $11,332,000 after acquiring an additional 18,986 shares during the period. Millennium Management LLC raised its position in shares of Ubiquiti by 86.2% during the second quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after buying an additional 27,011 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Ubiquiti by 88.8% in the 2nd quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock worth $3,372,000 after acquiring an additional 11,076 shares during the period. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Performance

Shares of UI opened at $358.48 on Friday. The firm has a fifty day simple moving average of $260.68 and a 200 day simple moving average of $196.59. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $361.60. The stock has a market capitalization of $21.68 billion, a price-to-earnings ratio of 55.49 and a beta of 1.13.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. The company had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.67%. Ubiquiti’s dividend payout ratio is presently 37.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UI. Barclays raised their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. Finally, BWS Financial upped their target price on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

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.