Sei Investments Co. Purchases New Holdings in Ubiquiti Inc. (NYSE:UI)

Sei Investments Co. purchased a new position in shares of Ubiquiti Inc. (NYSE:UI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,234 shares of the company’s stock, valued at approximately $1,737,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in shares of Ubiquiti during the 4th quarter valued at $15,425,000. Zacks Investment Management bought a new stake in Ubiquiti during the third quarter worth about $8,892,000. 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 worth $20,522,000 after buying an additional 30,118 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Ubiquiti in the 4th quarter valued at about $9,274,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Ubiquiti in the 4th quarter valued at approximately $8,619,000. Institutional investors own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BWS Financial reiterated a “buy” rating and set a $440.00 price target on shares of Ubiquiti in a research report on Friday. Barclays reduced their target price on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th.

Ubiquiti Stock Down 5.4 %

UI stock opened at $274.04 on Friday. The firm has a 50-day moving average price of $339.36 and a 200-day moving average price of $320.12. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $469.98. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $16.58 billion, a P/E ratio of 37.23 and a beta of 1.31.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $1.36 EPS. As a group, equities research analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were given a $0.60 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 annualized dividend and a yield of 0.88%. Ubiquiti’s dividend payout ratio is presently 32.61%.

Insider Activity

In other news, CAO Kevin Radigan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total transaction of $347,990.00. Following the completion of the transaction, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at approximately $864,407.16. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 93.10% of the company’s stock.

Ubiquiti Company 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.