Renaissance Technologies LLC Has $28.41 Million Stock Position in Ubiquiti Inc. (NYSE:UI)

Renaissance Technologies LLC cut its holdings in Ubiquiti Inc. (NYSE:UI) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,064 shares of the company’s stock after selling 14,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.32% of Ubiquiti worth $28,413,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. CIBC Asset Management Inc acquired a new stake in Ubiquiti in the second quarter valued at about $249,000. nVerses Capital LLC acquired a new stake in Ubiquiti in the second quarter valued at about $44,000. Bank of New York Mellon Corp boosted its stake in Ubiquiti by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock valued at $20,349,000 after buying an additional 2,041 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Ubiquiti in the second quarter valued at about $241,000. Finally, Alpha Cubed Investments LLC acquired a new stake in Ubiquiti in the second quarter valued at about $407,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Price Performance

Ubiquiti stock opened at $213.80 on Friday. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. The company has a market capitalization of $12.93 billion, a PE ratio of 36.93 and a beta of 1.16. Ubiquiti Inc. has a 12 month low of $103.00 and a 12 month high of $215.64. The stock has a 50-day moving average price of $182.73 and a two-hundred day moving average price of $146.81.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The firm had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The company’s revenue was up 3.3% compared to the same quarter last year. Analysts expect that Ubiquiti Inc. will post 7.09 EPS for the current year.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.12%. Ubiquiti’s dividend payout ratio (DPR) is 41.45%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BWS Financial raised their price objective on Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Barclays reduced their price objective on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 27th. Finally, StockNews.com downgraded Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

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.