Ubiquiti Networks Sees Unusually High Options Volume (UBNT)

Ubiquiti Networks Inc (NASDAQ:UBNT) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 6,486 put options on the company. This represents an increase of approximately 983% compared to the average daily volume of 599 put options.

Ubiquiti Networks (UBNT) opened at $56.68 on Thursday. The company has a quick ratio of 10.00, a current ratio of 10.94 and a debt-to-equity ratio of 0.95. Ubiquiti Networks has a one year low of $45.71 and a one year high of $82.30. The firm has a market cap of $4,294.52, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.54 and a beta of 0.58.

Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. Ubiquiti Networks had a net margin of 15.73% and a return on equity of 47.42%. The firm had revenue of $250.80 million for the quarter, compared to analyst estimates of $239.89 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. equities research analysts expect that Ubiquiti Networks will post 1.93 EPS for the current year.

Ubiquiti Networks declared that its Board of Directors has authorized a share buyback plan on Thursday, November 9th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

UBNT has been the subject of a number of analyst reports. BidaskClub cut shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Friday, January 12th. ValuEngine upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday, November 10th. TheStreet cut shares of Ubiquiti Networks from an “a” rating to a “c+” rating in a report on Friday, February 9th. Finally, Vetr upgraded shares of Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 price objective for the company in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $65.75.

Institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after buying an additional 80 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in Ubiquiti Networks in the fourth quarter valued at approximately $104,000. Gilder Gagnon Howe & Co. LLC bought a new position in Ubiquiti Networks in the third quarter valued at approximately $178,000. Xact Kapitalforvaltning AB bought a new position in Ubiquiti Networks in the fourth quarter valued at approximately $203,000. Finally, Brown Advisory Inc. bought a new position in Ubiquiti Networks in the third quarter valued at approximately $211,000. 32.06% of the stock is currently owned by hedge funds and other institutional investors.

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Ubiquiti Networks Company 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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