Quantitative Investment Management LLC lowered its stake in Ubiquiti Networks Inc (NASDAQ:UBNT) by 59.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,500 shares of the Wireless communications provider’s stock after selling 109,100 shares during the period. Quantitative Investment Management LLC owned approximately 0.10% of Ubiquiti Networks worth $5,362,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of UBNT. Anchor Capital Advisors LLC bought a new position in shares of Ubiquiti Networks in the third quarter worth $20,244,000. Jackson Square Partners LLC increased its position in shares of Ubiquiti Networks by 21.1% in the third quarter. Jackson Square Partners LLC now owns 1,316,083 shares of the Wireless communications provider’s stock worth $73,726,000 after purchasing an additional 228,986 shares during the period. Schroder Investment Management Group bought a new position in shares of Ubiquiti Networks in the fourth quarter worth $4,681,000. Pier Capital LLC bought a new position in shares of Ubiquiti Networks in the third quarter worth $2,827,000. Finally, Sei Investments Co. increased its position in shares of Ubiquiti Networks by 18.5% in the third quarter. Sei Investments Co. now owns 312,994 shares of the Wireless communications provider’s stock worth $17,534,000 after purchasing an additional 48,918 shares during the period. Institutional investors own 30.81% of the company’s stock.
UBNT has been the topic of a number of recent analyst reports. Zacks Investment Research cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. ValuEngine cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. BidaskClub cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Vetr cut Ubiquiti Networks from a “hold” rating to a “sell” rating and set a $71.07 target price on the stock. in a research report on Thursday, January 4th. Finally, Deutsche Bank lifted their target price on Ubiquiti Networks from $47.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Ubiquiti Networks presently has an average rating of “Hold” and a consensus price target of $65.75.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. The firm had revenue of $250.80 million for the quarter, compared to analysts’ expectations of $239.89 million. During the same quarter in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. equities research analysts forecast that Ubiquiti Networks Inc will post 1.93 EPS for the current year.
Ubiquiti Networks announced that its board has authorized a stock buyback program on Thursday, February 8th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is 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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