Bank of New York Mellon Corp Trims Position in Ubiquiti Inc. (NYSE:UI)

Bank of New York Mellon Corp lowered its stake in Ubiquiti Inc. (NYSE:UI) by 54.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 64,223 shares of the company’s stock after selling 75,588 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of Ubiquiti worth $21,318,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Zacks Investment Management purchased a new stake in Ubiquiti in the 3rd quarter valued at about $8,892,000. Pacer Advisors Inc. acquired a new position in Ubiquiti in the third quarter valued at approximately $7,030,000. Barclays PLC boosted its holdings in shares of Ubiquiti by 4,880.2% in 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 during the period. Nisa Investment Advisors LLC purchased a new stake in shares of Ubiquiti during the fourth quarter worth approximately $3,050,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Ubiquiti during the fourth quarter worth approximately $2,180,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays cut their price objective on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. BWS Financial restated a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a report on Monday, February 10th. Finally, StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th.

Ubiquiti Trading Down 6.1 %

NYSE:UI opened at $301.31 on Tuesday. Ubiquiti Inc. has a 12-month low of $104.24 and a 12-month high of $469.98. The firm has a market capitalization of $18.23 billion, a P/E ratio of 40.94 and a beta of 1.12. The business has a 50 day simple moving average of $365.26 and a 200 day simple moving average of $305.48. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company posted $1.36 EPS. Equities research analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Tuesday, February 18th. Ubiquiti’s payout ratio is 32.61%.

Insider Buying and Selling

In related news, CAO Kevin Radigan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total transaction of $347,990.00. Following the transaction, the chief accounting officer now owns 2,484 shares in the company, valued at $864,407.16. This represents a 28.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 93.10% of the stock is currently owned by insiders.

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.