Macquarie Group Ltd. cut its position in Ubiquiti Networks Inc (NASDAQ:UBNT) by 53.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,504 shares of the Wireless communications provider’s stock after selling 104,180 shares during the quarter. Macquarie Group Ltd. owned 0.12% of Ubiquiti Networks worth $8,849,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. WealthTrust Fairport LLC acquired a new stake in shares of Ubiquiti Networks in the third quarter valued at about $117,000. Russell Investments Group Ltd. acquired a new stake in shares of Ubiquiti Networks in the third quarter valued at about $178,000. CIBC Asset Management Inc acquired a new stake in shares of Ubiquiti Networks in the second quarter valued at about $232,000. HPM Partners LLC acquired a new stake in shares of Ubiquiti Networks in the second quarter valued at about $258,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in Ubiquiti Networks during the third quarter worth approximately $267,000. Hedge funds and other institutional investors own 24.60% of the company’s stock.
Several equities research analysts recently commented on UBNT shares. Bank of America raised their target price on Ubiquiti Networks from $52.50 to $62.00 and gave the stock an “underperform” rating in a research note on Monday, October 29th. BidaskClub cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. BMO Capital Markets raised their target price on Ubiquiti Networks to $99.00 and gave the stock a “market perform” rating in a research note on Monday, November 12th. Credit Suisse Group reissued a “hold” rating and issued a $86.00 price objective on shares of Ubiquiti Networks in a research note on Thursday, December 20th. Finally, JMP Securities reissued a “hold” rating on shares of Ubiquiti Networks in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $82.29.
In related news, Director Ronald Sege sold 6,250 shares of Ubiquiti Networks stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $110.19, for a total transaction of $688,687.50. Following the sale, the director now directly owns 6,250 shares in the company, valued at $688,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 78.70% of the company’s stock.
Shares of UBNT stock traded up $1.76 during trading hours on Wednesday, reaching $106.37. The company had a trading volume of 212,857 shares, compared to its average volume of 307,969. Ubiquiti Networks Inc has a 12 month low of $49.40 and a 12 month high of $115.44. The company has a quick ratio of 5.20, a current ratio of 6.12 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $7.45 billion, a PE ratio of 29.06, a P/E/G ratio of 2.03 and a beta of 1.11.
Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Friday, November 9th. The Wireless communications provider reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.34. The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $270.60 million. Ubiquiti Networks had a return on equity of 87.51% and a net margin of 19.64%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. On average, equities research analysts anticipate that Ubiquiti Networks Inc will post 3.69 earnings per share for the current fiscal year.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. 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 WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.
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