AlphaCrest Capital Management LLC Trims Stake in Ubiquiti Inc. (NYSE:UI)

AlphaCrest Capital Management LLC lessened its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,413 shares of the company’s stock after selling 82 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Ubiquiti were worth $441,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in Ubiquiti in the second quarter worth $101,000. JPMorgan Chase & Co. increased its position in shares of Ubiquiti by 121.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,960 shares of the company’s stock valued at $4,982,000 after purchasing an additional 8,750 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Ubiquiti by 12.5% during the 2nd quarter. Bank of Montreal Can now owns 1,047 shares of the company’s stock valued at $328,000 after buying an additional 116 shares in the last quarter. CIBC World Markets Inc. bought a new stake in Ubiquiti in the 2nd quarter worth approximately $2,067,000. Finally, Ergoteles LLC purchased a new stake in Ubiquiti in the second quarter worth approximately $1,186,000. Institutional investors and hedge funds own 6.21% of the company’s stock.

In other Ubiquiti news, Director Ronald Sege sold 1,584 shares of the firm’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $329.31, for a total value of $521,627.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 89.60% of the company’s stock.

Separately, TheStreet raised shares of Ubiquiti from a “c+” rating to a “b-” rating in a research note on Wednesday, July 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $241.25.

NYSE UI opened at $312.92 on Thursday. The firm has a market cap of $19.56 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 0.86 and a beta of 1.36. Ubiquiti Inc. has a 1-year low of $182.87 and a 1-year high of $401.80. The stock has a 50-day moving average of $310.16 and a 200-day moving average of $302.51. The company has a current ratio of 2.51, a quick ratio of 1.67 and a debt-to-equity ratio of 173.04.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Thursday, August 26th. The company reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.13. The business had revenue of $477.90 million for the quarter, compared to analysts’ expectations of $402.55 million. Ubiquiti had a negative return on equity of 491.01% and a net margin of 32.48%. The business’s quarterly revenue was up 51.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities research analysts forecast that Ubiquiti Inc. will post 11.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, September 7th were issued a dividend of $0.60 per share. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.30. This represents a $2.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, September 3rd. Ubiquiti’s dividend payout ratio is currently 24.54%.

Ubiquiti Company Profile

Ubiquiti, Inc is focused on democratizing network technology on a global scale. It sells networking equipment and provides related software platforms. The firm develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use.

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Institutional Ownership by Quarter for Ubiquiti (NYSE:UI)

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