Atria Wealth Solutions Inc. Invests $247,000 in Ubiquiti Inc. $UI

Atria Wealth Solutions Inc. bought a new position in shares of Ubiquiti Inc. (NYSE:UI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 600 shares of the company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Ubiquiti during the 1st quarter worth approximately $25,000. Brooklyn Investment Group boosted its holdings in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock worth $29,000 after purchasing an additional 41 shares during the last quarter. Main Street Group LTD acquired a new position in shares of Ubiquiti during the 2nd quarter worth approximately $41,000. Iron Horse Wealth Management LLC acquired a new position in shares of Ubiquiti during the 2nd quarter worth approximately $54,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Ubiquiti by 20.5% during the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock worth $65,000 after purchasing an additional 27 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Stock Down 2.3%

Shares of NYSE UI opened at $718.69 on Wednesday. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 61.06 and a beta of 1.44. Ubiquiti Inc. has a 52-week low of $245.00 and a 52-week high of $773.95. The business’s 50 day moving average is $599.10 and its two-hundred day moving average is $461.66.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $1.31. The company had revenue of $759.15 million for the quarter, compared to analyst estimates 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 previous year, the company earned $1.74 earnings per share. Analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 0.4%. Ubiquiti’s dividend payout ratio is presently 27.19%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UI shares. UBS Group set a $600.00 target price on Ubiquiti in a report on Monday, August 25th. BWS Financial boosted their target price on Ubiquiti from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Barclays upped their price objective on Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $539.67.

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.