Quantinno Capital Management LP Increases Stake in Ubiquiti Inc. (NYSE:UI)

Quantinno Capital Management LP boosted its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 91.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,671 shares of the company’s stock after buying an additional 1,756 shares during the period. Quantinno Capital Management LP’s holdings in Ubiquiti were worth $814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SW Investment Management LLC lifted its stake in Ubiquiti by 9.1% in the second quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock worth $43,698,000 after acquiring an additional 25,000 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Ubiquiti by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock worth $20,349,000 after purchasing an additional 2,041 shares during the last quarter. Millennium Management LLC lifted its position in shares of Ubiquiti by 86.2% during the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock worth $8,499,000 after purchasing an additional 27,011 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Ubiquiti during the third quarter worth $7,030,000. Finally, AQR Capital Management LLC increased its holdings in Ubiquiti by 88.8% in the second quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock valued at $3,372,000 after buying an additional 11,076 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Performance

NYSE UI opened at $344.89 on Friday. The company has a fifty day moving average of $299.26 and a two-hundred day moving average of $217.81. The company has a market capitalization of $20.86 billion, a PE ratio of 53.39 and a beta of 1.12. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $366.33. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.70%. Ubiquiti’s dividend payout ratio is presently 37.15%.

Wall Street Analysts Forecast Growth

UI has been the subject of a number of recent analyst reports. BWS Financial lifted their price target on Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays boosted their target price on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th.

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.