GC Wealth Management RIA LLC Lowers Position in Ubiquiti Inc. $UI

GC Wealth Management RIA LLC reduced its stake in Ubiquiti Inc. (NYSE:UI) by 17.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,250 shares of the company’s stock after selling 264 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Ubiquiti were worth $515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of UI. AQR Capital Management LLC raised its position in Ubiquiti by 133.9% in the 1st quarter. AQR Capital Management LLC now owns 232,015 shares of the company’s stock valued at $70,521,000 after buying an additional 132,816 shares during the last quarter. TD Asset Management Inc purchased a new stake in Ubiquiti in the 1st quarter valued at $34,013,000. Epoch Investment Partners Inc. purchased a new stake in Ubiquiti in the 1st quarter valued at $18,897,000. Pacer Advisors Inc. raised its position in Ubiquiti by 76.2% in the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock valued at $33,785,000 after buying an additional 47,109 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Ubiquiti by 37,116.4% in the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company’s stock valued at $12,697,000 after buying an additional 40,828 shares during the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Performance

UI stock opened at $659.44 on Wednesday. The company has a market capitalization of $39.89 billion, a price-to-earnings ratio of 56.03 and a beta of 1.42. Ubiquiti Inc. has a fifty-two week low of $215.62 and a fifty-two week high of $676.25. The stock has a fifty day moving average of $523.35 and a 200-day moving average of $421.05.

Ubiquiti (NYSE:UI) last posted its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.23 by $1.31. The company had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same quarter in the prior year, the company earned $1.74 EPS. Equities analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s dividend payout ratio is currently 27.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on UI shares. BWS Financial raised their target price on Ubiquiti from $440.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 25th. Barclays raised their target price on Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a research report on Friday, August 22nd. Finally, UBS Group set a $600.00 target price on Ubiquiti in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $499.67.

About Ubiquiti

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.