Point72 Hong Kong Ltd Makes New $730,000 Investment in Ubiquiti Inc. (NYSE:UI)

Point72 Hong Kong Ltd bought a new position in Ubiquiti Inc. (NYSE:UI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,198 shares of the company’s stock, valued at approximately $730,000.

A number of other hedge funds have also added to or reduced their stakes in UI. Farther Finance Advisors LLC increased its holdings in shares of Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock valued at $40,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock valued at $43,000 after acquiring an additional 54 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Ubiquiti by 78.8% during the fourth quarter. Blue Trust Inc. now owns 143 shares of the company’s stock valued at $47,000 after acquiring an additional 63 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Ubiquiti by 30.2% during the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company’s stock valued at $56,000 after acquiring an additional 39 shares in the last quarter. Finally, Financial Perspectives Inc increased its holdings in shares of Ubiquiti by 152.2% during the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock valued at $56,000 after acquiring an additional 102 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Trading Down 0.8%

Shares of Ubiquiti stock opened at $418.47 on Friday. The stock has a fifty day simple moving average of $324.29 and a 200 day simple moving average of $339.94. Ubiquiti Inc. has a 12-month low of $138.74 and a 12-month high of $469.98. The company has a market capitalization of $25.31 billion, a P/E ratio of 56.86 and a beta of 1.32. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results 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 return on equity of 296.82% and a net margin of 20.68%. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th will be given a $0.60 dividend. The ex-dividend date is Monday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.57%. Ubiquiti’s dividend payout ratio is currently 26.43%.

Analyst Ratings Changes

Several research firms have recently commented on UI. Barclays boosted their price objective on Ubiquiti from $222.00 to $247.00 and gave the company an “underweight” rating in a report on Monday. BWS Financial reiterated a “buy” rating and set a $440.00 price target on shares of Ubiquiti in a report on Monday.

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.