Abacus FCF Advisors LLC Buys 28,726 Shares of Ubiquiti Inc. (NYSE:UI)

Abacus FCF Advisors LLC lifted its stake in Ubiquiti Inc. (NYSE:UI) by 654.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,116 shares of the company’s stock after purchasing an additional 28,726 shares during the period. Ubiquiti accounts for approximately 1.6% of Abacus FCF Advisors LLC’s holdings, making the stock its 28th largest holding. Abacus FCF Advisors LLC owned about 0.05% of Ubiquiti worth $10,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its holdings in Ubiquiti by 4,880.2% during the third 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. Blue Trust Inc. lifted its holdings in Ubiquiti by 78.8% during the fourth quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Ubiquiti during the fourth quarter worth about $202,000. Choreo LLC bought a new position in Ubiquiti during the fourth quarter worth about $308,000. Finally, Principal Securities Inc. lifted its holdings in Ubiquiti by 89.3% during the fourth quarter. Principal Securities Inc. now owns 229 shares of the company’s stock worth $76,000 after acquiring an additional 108 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UI has been the topic of several recent analyst reports. BWS Financial reiterated a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a report on Monday, May 12th. Barclays lifted their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an “underweight” rating in a report on Monday, May 12th.

Ubiquiti Stock Performance

UI stock opened at $415.59 on Tuesday. The firm has a market cap of $25.14 billion, a PE ratio of 56.47 and a beta of 1.35. The business’s 50-day moving average price is $354.65 and its two-hundred day moving average price is $351.93. Ubiquiti Inc. has a 1-year low of $139.06 and a 1-year 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.

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were issued a $0.60 dividend. The ex-dividend date was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.58%. Ubiquiti’s dividend payout ratio (DPR) is 26.43%.

Ubiquiti 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.