Claret Asset Management Corp Trims Holdings in Ubiquiti Inc. $UI

Claret Asset Management Corp lessened its stake in Ubiquiti Inc. (NYSE:UI) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,812 shares of the company’s stock after selling 3,119 shares during the period. Ubiquiti comprises about 1.4% of Claret Asset Management Corp’s investment portfolio, making the stock its 18th largest position. Claret Asset Management Corp’s holdings in Ubiquiti were worth $10,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Ubiquiti by 133.9% during the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock worth $70,521,000 after acquiring an additional 132,816 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Ubiquiti in the first quarter worth about $18,897,000. Rhumbline Advisers grew its stake in Ubiquiti by 856.8% in the second quarter. Rhumbline Advisers now owns 42,787 shares of the company’s stock worth $17,613,000 after purchasing an additional 38,315 shares in the last quarter. Nuveen LLC bought a new stake in Ubiquiti in the first quarter valued at about $11,363,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Ubiquiti by 139.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 45,142 shares of the company’s stock valued at $14,000,000 after buying an additional 26,309 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Stock Performance

Shares of UI opened at $583.09 on Monday. Ubiquiti Inc. has a one year low of $255.00 and a one year high of $803.59. The stock’s fifty day moving average is $662.86 and its 200-day moving average is $525.77. The firm has a market capitalization of $35.28 billion, a price-to-earnings ratio of 49.54 and a beta of 1.50.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, November 7th. The company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.98. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The firm had revenue of $733.77 million during the quarter, compared to analyst estimates of $702.38 million. Analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.20 annualized dividend and a yield of 0.5%. Ubiquiti’s payout ratio is presently 24.46%.

Analyst Upgrades and Downgrades

UI has been the subject of several research reports. UBS Group set a $600.00 target price on Ubiquiti in a research report on Monday, August 25th. Wall Street Zen lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research downgraded shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Barclays lifted their price target on shares of Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a report on Tuesday, November 11th. Finally, BWS Financial reiterated a “buy” rating and set a $720.00 price objective on shares of Ubiquiti in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $591.67.

Insiders Place Their Bets

In other Ubiquiti 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 transaction, the chief accounting officer directly owned 2,768 shares of the company’s stock, valued at approximately $1,595,973.44. This trade represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 93.10% of the stock is owned by company insiders.

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.