Walleye Capital LLC Reduces Stock Holdings in Ubiquiti Inc. $UI

Walleye Capital LLC lowered its stake in shares of Ubiquiti Inc. (NYSE:UI) by 67.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,630 shares of the company’s stock after selling 5,411 shares during the quarter. Walleye Capital LLC’s holdings in Ubiquiti were worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Ubiquiti by 87.5% in the 4th quarter. Blue Trust Inc. now owns 45 shares of the company’s stock valued at $25,000 after buying an additional 21 shares in the last quarter. Vision Retirement LLC purchased a new position in shares of Ubiquiti in the 1st quarter valued at $25,000. Quarry LP acquired a new stake in Ubiquiti during the 3rd quarter worth $34,000. CIBC Private Wealth Group LLC raised its stake in Ubiquiti by 238.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its position in Ubiquiti by 50.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company’s stock valued at $42,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on UI shares. Weiss Ratings downgraded shares of Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Wall Street Zen cut Ubiquiti from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays boosted their target price on Ubiquiti from $527.00 to $672.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, BWS Financial restated a “buy” rating and set a $980.00 price target on shares of Ubiquiti in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ubiquiti presently has an average rating of “Moderate Buy” and an average target price of $750.67.

Ubiquiti Price Performance

UI stock opened at $529.22 on Friday. The company has a fifty day moving average price of $564.06 and a 200 day moving average price of $690.32. Ubiquiti Inc. has a 12 month low of $380.00 and a 12 month high of $1,099.99. The company has a market cap of $32.03 billion, a price-to-earnings ratio of 34.01 and a beta of 1.31.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, May 8th. The company reported $3.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.41). Ubiquiti had a return on equity of 95.62% and a net margin of 30.43%.The business had revenue of $788.20 million for the quarter, compared to analysts’ expectations of $814.30 million. Ubiquiti’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, analysts anticipate that Ubiquiti Inc. will post 14.82 earnings per share for the current year.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, May 18th. This represents a $3.20 annualized dividend and a dividend yield of 0.6%. Ubiquiti’s dividend payout ratio is 20.57%.

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.