West Michigan Advisors LLC Makes New Investment in Ubiquiti Inc. (NYSE:UI)

West Michigan Advisors LLC bought a new stake in shares of Ubiquiti Inc. (NYSE:UI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 885 shares of the company’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UI. Barclays PLC raised its stake in shares of Ubiquiti by 4,880.2% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after acquiring an additional 13,079 shares in the last quarter. Empowered Funds LLC purchased a new position in Ubiquiti in the third quarter worth $323,000. Convergence Investment Partners LLC acquired a new position in shares of Ubiquiti during the fourth quarter worth $2,180,000. Algert Global LLC purchased a new stake in shares of Ubiquiti during the 3rd quarter valued at $838,000. Finally, Versor Investments LP increased its position in Ubiquiti by 254.5% during the 4th quarter. Versor Investments LP now owns 3,900 shares of the company’s stock valued at $1,295,000 after buying an additional 2,800 shares in the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UI has been the topic of a number of recent analyst reports. BWS Financial restated a “buy” rating and set a $440.00 price target on shares of Ubiquiti in a research note on Monday, February 10th. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Finally, Barclays lowered their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research report on Monday, February 10th.

Ubiquiti Price Performance

Shares of NYSE UI opened at $341.70 on Friday. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $469.98. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. The firm has a market cap of $20.67 billion, a P/E ratio of 46.43 and a beta of 1.14. The business’s 50 day moving average price is $368.39 and its 200 day moving average price is $298.62.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, beating 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 prior year, the company posted $1.36 EPS. On average, sell-side analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.70%. Ubiquiti’s dividend payout ratio (DPR) is presently 32.61%.

Insider Activity

In other 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 completion of the transaction, the chief accounting officer now directly owns 2,484 shares of the company’s stock, valued at $864,407.16. The trade was a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 93.10% of the company’s stock.

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.