Renaissance Technologies LLC Acquires 2,400 Shares of Ubiquiti Inc. (NYSE:UI)

Renaissance Technologies LLC increased its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 199,964 shares of the company’s stock after acquiring an additional 2,400 shares during the period. Renaissance Technologies LLC’s holdings in Ubiquiti were worth $66,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of Ubiquiti by 47.0% during the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock worth $40,000 after acquiring an additional 39 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Ubiquiti by 71.1% during the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock worth $43,000 after acquiring an additional 54 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Financial Perspectives Inc increased its holdings in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock worth $56,000 after purchasing an additional 102 shares during the period. Finally, Principal Securities Inc. increased its holdings in Ubiquiti by 89.3% during the 4th quarter. Principal Securities Inc. now owns 229 shares of the company’s stock worth $76,000 after purchasing an additional 108 shares during the period. 4.00% of the stock is owned by institutional investors.

Ubiquiti Trading Up 9.9 %

UI opened at $311.30 on Thursday. The stock’s fifty day moving average is $329.21 and its two-hundred day moving average is $322.13. The company has a market capitalization of $18.83 billion, a P/E ratio of 42.30 and a beta of 1.31. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $469.98. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same period in the prior year, the firm posted $1.36 EPS. Analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. Ubiquiti’s dividend payout ratio is presently 32.61%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BWS Financial restated a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a report on Friday, April 4th. Barclays reduced their price objective on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th.

Insider Activity

In other news, CAO Kevin Radigan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the sale, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at $864,407.16. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 93.10% of the company’s stock.

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.