Pacer Advisors Inc. Increases Stock Holdings in Ubiquiti Inc. $UI

Pacer Advisors Inc. boosted its stake in shares of Ubiquiti Inc. (NYSE:UI) by 40.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 105,858 shares of the company’s stock after buying an additional 30,420 shares during the period. Pacer Advisors Inc. owned approximately 0.18% of Ubiquiti worth $69,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of UI. Cullen Frost Bankers Inc. lifted its holdings in shares of Ubiquiti by 1,075.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company’s stock worth $39,000 after acquiring an additional 86 shares during the last quarter. Main Street Group LTD purchased a new position in shares of Ubiquiti during the second quarter valued at approximately $41,000. Exchange Traded Concepts LLC grew its stake in shares of Ubiquiti by 31.0% during the third quarter. Exchange Traded Concepts LLC now owns 76 shares of the company’s stock valued at $50,000 after buying an additional 18 shares during the last quarter. Iron Horse Wealth Management LLC purchased a new stake in shares of Ubiquiti in the second quarter worth approximately $54,000. Finally, GAMMA Investing LLC boosted its holdings in Ubiquiti by 20.5% during the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock valued at $65,000 after acquiring an additional 27 shares during the period. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Price Performance

UI opened at $571.23 on Friday. The firm has a market capitalization of $34.56 billion, a PE ratio of 43.67 and a beta of 1.38. The business’s 50-day moving average is $620.97 and its two-hundred day moving average is $545.61. Ubiquiti Inc. has a 1 year low of $255.00 and a 1 year high of $803.59.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, November 7th. The company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.98. The business had revenue of $733.77 million for the quarter, compared to analysts’ expectations of $702.38 million. Ubiquiti had a net margin of 28.72% and a return on equity of 132.71%. As a group, sell-side analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, November 17th. Ubiquiti’s payout ratio is currently 24.46%.

Analyst Upgrades and Downgrades

UI has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a research note on Tuesday, November 11th. Weiss Ratings cut Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. BWS Financial reissued a “buy” rating and set a $720.00 price target on shares of Ubiquiti in a research report on Tuesday, November 11th. Finally, Wall Street Zen downgraded Ubiquiti from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $591.67.

Insider Activity

In other news, CAO Kevin Radigan sold 350 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $576.58, for a total transaction of $201,803.00. Following the completion of the sale, the chief accounting officer owned 2,768 shares in the company, valued at approximately $1,595,973.44. This represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 93.10% of the company’s stock.

Ubiquiti Company Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.