Stifel Financial Corp Has $3.34 Million Stake in Ubiquiti Networks Inc (UBNT)
Stifel Financial Corp grew its holdings in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,438 shares of the Wireless communications provider’s stock after buying an additional 5,038 shares during the quarter. Stifel Financial Corp owned 0.08% of Ubiquiti Networks worth $3,335,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Ubiquiti Networks by 4.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after buying an additional 80 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Ubiquiti Networks during the second quarter valued at about $144,000. Pacer Advisors Inc. lifted its position in shares of Ubiquiti Networks by 11.8% during the second quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock valued at $157,000 after purchasing an additional 319 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Ubiquiti Networks during the third quarter valued at about $178,000. Finally, Brown Advisory Inc. bought a new position in shares of Ubiquiti Networks during the third quarter valued at about $211,000. Hedge funds and other institutional investors own 33.83% of the company’s stock.
A number of research analysts recently weighed in on UBNT shares. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. ValuEngine raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Vetr raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $65.54 price target on the stock in a research report on Wednesday, September 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Ubiquiti Networks in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.86.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The company had revenue of $245.90 million for the quarter, compared to analyst estimates of $240.39 million. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. equities analysts anticipate that Ubiquiti Networks Inc will post 3.35 EPS for the current fiscal year.
Ubiquiti Networks announced that its Board of Directors has approved a stock repurchase program on Tuesday, September 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the Wireless communications provider to reacquire up to 18% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
About Ubiquiti Networks
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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