Ameriprise Financial Inc. lifted its position in Ubiquiti Networks Inc (NASDAQ:UBNT) by 106.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,651 shares of the Wireless communications provider’s stock after buying an additional 14,287 shares during the quarter. Ameriprise Financial Inc.’s holdings in Ubiquiti Networks were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of UBNT. PNC Financial Services Group Inc. increased its position in Ubiquiti Networks by 4.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after acquiring an additional 80 shares during the period. SG Americas Securities LLC bought a new position in Ubiquiti Networks during the second quarter worth $144,000. Pacer Advisors Inc. increased its position in Ubiquiti Networks by 11.8% during the second quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock worth $157,000 after acquiring an additional 319 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new position in Ubiquiti Networks during the third quarter worth $178,000. Finally, BNP Paribas Arbitrage SA increased its position in Ubiquiti Networks by 138.8% during the second quarter. BNP Paribas Arbitrage SA now owns 4,198 shares of the Wireless communications provider’s stock worth $218,000 after acquiring an additional 2,440 shares during the period. Institutional investors and hedge funds own 33.83% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Ubiquiti Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Vetr raised shares of Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 price target on the stock in a report on Monday, January 22nd. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 19th. ValuEngine lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Finally, BMO Capital Markets lowered their price target on shares of Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating on the stock in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.95.
Ubiquiti Networks Inc (NASDAQ:UBNT) traded down $0.82 on Wednesday, hitting $80.67. 550,537 shares of the stock traded hands, compared to its average volume of 292,030. Ubiquiti Networks Inc has a fifty-two week low of $45.71 and a fifty-two week high of $82.30. The company has a market cap of $6,280.00, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.51.
Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.06. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The business had revenue of $245.90 million for the quarter, compared to analyst estimates of $240.39 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. analysts predict that Ubiquiti Networks Inc will post 3.08 EPS for the current fiscal year.
Ubiquiti Networks declared that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
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Ubiquiti Networks Profile
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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