HPM Partners LLC acquired a new stake in shares of Ubiquiti Networks (NASDAQ:UBNT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,054 shares of the Wireless communications provider’s stock, valued at approximately $217,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of UBNT. First Trust Advisors LP increased its position in shares of Ubiquiti Networks by 10.9% during the third quarter. First Trust Advisors LP now owns 30,553 shares of the Wireless communications provider’s stock valued at $1,712,000 after acquiring an additional 2,999 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Ubiquiti Networks by 5.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,067 shares of the Wireless communications provider’s stock valued at $1,516,000 after acquiring an additional 1,380 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Ubiquiti Networks in the third quarter valued at approximately $178,000. Advisor Group Inc. grew its holdings in shares of Ubiquiti Networks by 11.2% in the third quarter. Advisor Group Inc. now owns 32,709 shares of the Wireless communications provider’s stock valued at $1,832,000 after purchasing an additional 3,292 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Ubiquiti Networks by 9.0% in the third quarter. Rhumbline Advisers now owns 28,589 shares of the Wireless communications provider’s stock valued at $1,602,000 after purchasing an additional 2,350 shares in the last quarter. 30.88% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. Deutsche Bank lifted their price objective on shares of Ubiquiti Networks from $47.00 to $55.00 and gave the company a “hold” rating in a report on Friday, February 9th. TheStreet downgraded shares of Ubiquiti Networks from an “a” rating to a “c+” rating in a research note on Friday, February 9th. 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 research report on Friday, January 12th. BMO Capital Markets boosted their price objective on shares of Ubiquiti Networks from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Friday, February 9th. Finally, ValuEngine upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ubiquiti Networks presently has an average rating of “Hold” and a consensus price target of $65.75.
Shares of NASDAQ:UBNT traded down $2.32 on Friday, reaching $70.32. 277,495 shares of the company were exchanged, compared to its average volume of 393,487. The stock has a market cap of $5,643.17, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.03 and a beta of 0.79. Ubiquiti Networks has a 1-year low of $45.71 and a 1-year high of $82.30. 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 (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, February 8th. The Wireless communications provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The firm had revenue of $250.80 million for the quarter, compared to analysts’ expectations of $239.89 million. Ubiquiti Networks had a net margin of 15.73% and a return on equity of 47.42%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. equities analysts anticipate that Ubiquiti Networks will post 1.93 earnings per share for the current year.
Ubiquiti Networks declared that its Board of Directors has authorized a stock buyback program on Thursday, February 8th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.
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