Los Angeles Capital Management LLC Has $380,000 Holdings in Ubiquiti Inc. $UI

Los Angeles Capital Management LLC decreased its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 30.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 924 shares of the company’s stock after selling 413 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ubiquiti were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of UI. Fox Run Management L.L.C. bought a new position in Ubiquiti in the second quarter valued at approximately $885,000. Convergence Financial LLC bought a new stake in shares of Ubiquiti during the 2nd quarter valued at $939,000. Hussman Strategic Advisors Inc. lifted its stake in shares of Ubiquiti by 33.3% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 16,800 shares of the company’s stock valued at $6,916,000 after purchasing an additional 4,200 shares during the period. Amalgamated Bank boosted its position in shares of Ubiquiti by 42.4% in the 2nd quarter. Amalgamated Bank now owns 373 shares of the company’s stock worth $154,000 after purchasing an additional 111 shares during the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of Ubiquiti during the second quarter worth $234,000. 4.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on UI shares. BWS Financial reiterated a “buy” rating and issued a $720.00 price target on shares of Ubiquiti in a research report on Tuesday, November 11th. Wall Street Zen downgraded shares of Ubiquiti from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings lowered shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. UBS Group set a $600.00 price target on shares of Ubiquiti in a research report on Monday, August 25th. Finally, Zacks Research cut shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ubiquiti presently has a consensus rating of “Hold” and an average price target of $591.67.

Ubiquiti Stock Performance

NYSE:UI opened at $558.32 on Friday. Ubiquiti Inc. has a 52-week low of $255.00 and a 52-week high of $803.59. The company has a market cap of $33.78 billion, a P/E ratio of 47.44 and a beta of 1.50. The stock’s 50-day simple moving average is $674.30 and its 200 day simple moving average is $512.34.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, November 7th. The company reported $3.46 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 analysts’ expectations of $702.38 million. As a group, equities analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be paid a $0.80 dividend. The ex-dividend date is Monday, November 17th. This represents a $3.20 annualized dividend and a yield of 0.6%. Ubiquiti’s payout ratio is 24.46%.

Insider Transactions at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 350 shares of Ubiquiti stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $576.58, for a total value 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 $1,595,973.44. The trade was a 11.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 93.10% of the stock is owned by corporate insiders.

Ubiquiti Company 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.