Logan Capital Management Inc. Lowers Stake in Ubiquiti Inc. (NYSE:UI)

Logan Capital Management Inc. reduced its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 29,020 shares of the company’s stock after selling 340 shares during the period. Logan Capital Management Inc.’s holdings in Ubiquiti were worth $7,884,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SW Investment Management LLC lifted its stake in shares of Ubiquiti by 18.2% in the 1st quarter. SW Investment Management LLC now owns 130,000 shares of the company’s stock worth $37,850,000 after acquiring an additional 20,000 shares during the period. State Street Corp lifted its stake in shares of Ubiquiti by 2.5% in the 1st quarter. State Street Corp now owns 105,612 shares of the company’s stock worth $30,750,000 after acquiring an additional 2,610 shares during the period. Vanguard Group Inc. lifted its stake in shares of Ubiquiti by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 105,479 shares of the company’s stock worth $30,710,000 after acquiring an additional 739 shares during the period. Morgan Stanley lifted its stake in shares of Ubiquiti by 18.3% in the 4th quarter. Morgan Stanley now owns 70,254 shares of the company’s stock worth $19,217,000 after acquiring an additional 10,849 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Ubiquiti by 2.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 45,519 shares of the company’s stock worth $11,298,000 after acquiring an additional 1,077 shares during the period. 3.54% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Down 0.7 %

Shares of NYSE UI opened at $167.26 on Friday. Ubiquiti Inc. has a 52 week low of $152.50 and a 52 week high of $350.63. The firm has a 50-day moving average price of $173.20 and a 200 day moving average price of $203.75. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 24.78 and a beta of 1.27.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Tuesday, September 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, September 1st. Ubiquiti’s dividend payout ratio (DPR) is 35.56%.

Wall Street Analyst Weigh In

UI has been the subject of several recent analyst reports. Barclays reduced their target price on shares of Ubiquiti from $207.00 to $141.00 in a research note on Sunday, August 27th. StockNews.com cut shares of Ubiquiti from a “hold” rating to a “sell” rating in a research note on Monday, September 4th.

Ubiquiti Company Profile

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, and other WLAN products.