Proficio Capital Partners LLC Takes Position in Ubiquiti Inc. (NYSE:UI)

Proficio Capital Partners LLC purchased a new position in shares of Ubiquiti Inc. (NYSE:UI) during the fourth quarter, HoldingsChannel reports. The fund purchased 46,470 shares of the company’s stock, valued at approximately $15,425,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Caprock Group LLC raised its holdings in Ubiquiti by 2.3% in the 4th quarter. Caprock Group LLC now owns 1,085 shares of the company’s stock valued at $360,000 after acquiring an additional 24 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in Ubiquiti by 12.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 384 shares of the company’s stock valued at $127,000 after purchasing an additional 41 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock worth $43,000 after purchasing an additional 54 shares during the period. US Bancorp DE grew its stake in Ubiquiti by 3.9% during the third quarter. US Bancorp DE now owns 1,537 shares of the company’s stock worth $341,000 after buying an additional 57 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Ubiquiti by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock valued at $392,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UI. BWS Financial reaffirmed a “buy” rating and set a $440.00 price target on shares of Ubiquiti in a report on Monday, February 10th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. Finally, Barclays decreased their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th.

Insiders Place Their Bets

In related news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 2,484 shares in the company, valued at $864,407.16. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 93.10% of the company’s stock.

Ubiquiti Stock Up 2.7 %

UI stock opened at $341.70 on Friday. The firm has a 50-day moving average price of $368.39 and a 200-day moving average price of $298.62. 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 $20.67 billion, a P/E ratio of 46.43 and a beta of 1.14.

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 disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.70%. Ubiquiti’s dividend payout ratio is currently 32.61%.

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.