Csenge Advisory Group lessened its stake in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) by 15.3% during the first quarter, HoldingsChannel.com reports. The fund owned 1,906 shares of the Wireless communications provider’s stock after selling 343 shares during the period. Csenge Advisory Group’s holdings in Ubiquiti Networks were worth $285,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of UBNT. Legal & General Group Plc increased its stake in shares of Ubiquiti Networks by 11.3% in the 4th quarter. Legal & General Group Plc now owns 9,518 shares of the Wireless communications provider’s stock valued at $947,000 after purchasing an additional 966 shares during the last quarter. Peregrine Asset Advisers Inc. bought a new position in shares of Ubiquiti Networks in the 1st quarter valued at $3,074,000. Norges Bank bought a new position in shares of Ubiquiti Networks in the 4th quarter valued at $34,971,000. FMR LLC increased its stake in shares of Ubiquiti Networks by 47,525.2% in the 4th quarter. FMR LLC now owns 52,864 shares of the Wireless communications provider’s stock valued at $5,255,000 after purchasing an additional 52,753 shares during the last quarter. Finally, Bandera Partners LLC increased its stake in shares of Ubiquiti Networks by 79.3% in the 4th quarter. Bandera Partners LLC now owns 156,000 shares of the Wireless communications provider’s stock valued at $15,508,000 after purchasing an additional 69,000 shares during the last quarter. Hedge funds and other institutional investors own 22.21% of the company’s stock.
Several equities analysts have recently issued reports on UBNT shares. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Monday, February 4th. ValuEngine lowered Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. BidaskClub lowered Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank lifted their price target on Ubiquiti Networks from $67.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, February 11th. Finally, BMO Capital Markets lifted their price target on Ubiquiti Networks from $99.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, February 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Ubiquiti Networks currently has a consensus rating of “Hold” and a consensus target price of $101.00.
In related news, Director Ronald Sege sold 10,900 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $147.60, for a total transaction of $1,608,840.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 78.70% of the company’s stock.
Shares of UBNT stock opened at $128.08 on Monday. The firm has a market cap of $9.04 billion, a P/E ratio of 34.99, a PEG ratio of 1.61 and a beta of 1.10. Ubiquiti Networks Inc has a twelve month low of $79.25 and a twelve month high of $174.95. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.63 and a current ratio of 5.03.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Friday, May 10th. The Wireless communications provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.16. The business had revenue of $284.90 million for the quarter, compared to analyst estimates of $285.96 million. Ubiquiti Networks had a return on equity of 152.60% and a net margin of 28.11%. Ubiquiti Networks’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Equities research analysts expect that Ubiquiti Networks Inc will post 4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. Ubiquiti Networks’s dividend payout ratio is currently 27.32%.
Ubiquiti Networks Profile
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.
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