Ubiquiti Networks Target of Unusually High Options Trading (UBNT)
Ubiquiti Networks Inc (NASDAQ:UBNT) was the recipient of unusually large options trading activity on Wednesday. Traders bought 4,392 call options on the company. This is an increase of approximately 1,207% compared to the typical volume of 336 call options.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jackson Square Partners LLC raised its holdings in Ubiquiti Networks by 21.1% in the 3rd quarter. Jackson Square Partners LLC now owns 1,316,083 shares of the Wireless communications provider’s stock valued at $73,726,000 after buying an additional 228,986 shares during the last quarter. Hunt Lane Capital LP raised its holdings in Ubiquiti Networks by 10.9% in the 4th quarter. Hunt Lane Capital LP now owns 698,544 shares of the Wireless communications provider’s stock valued at $49,611,000 after buying an additional 68,544 shares during the last quarter. Anchor Capital Advisors LLC bought a new position in Ubiquiti Networks in the 3rd quarter valued at approximately $20,244,000. Sei Investments Co. raised its holdings in Ubiquiti Networks by 18.5% in the 3rd quarter. Sei Investments Co. now owns 312,994 shares of the Wireless communications provider’s stock valued at $17,534,000 after buying an additional 48,918 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in Ubiquiti Networks by 15.7% in the 3rd quarter. Macquarie Group Ltd. now owns 255,750 shares of the Wireless communications provider’s stock valued at $14,327,000 after buying an additional 34,625 shares during the last quarter. Institutional investors and hedge funds own 32.06% of the company’s stock.
A number of research analysts have recently commented on UBNT shares. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 19th. ValuEngine raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Vetr cut shares of Ubiquiti Networks from a “hold” rating to a “sell” rating and set a $71.07 target price for the company. in a report on Thursday, January 4th. Finally, BMO Capital Markets increased their target price on shares of Ubiquiti Networks from $60.00 to $63.00 and gave the stock a “market perform” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the stock. Ubiquiti Networks presently has a consensus rating of “Hold” and an average target price of $65.75.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $250.80 million during the quarter, compared to analyst estimates of $239.89 million. Ubiquiti Networks had a net margin of 15.73% and a return on equity of 47.42%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. equities analysts expect that Ubiquiti Networks will post 1.93 earnings per share for the current year.
Ubiquiti Networks declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 9th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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Ubiquiti Networks Company Profile
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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