Anchor Capital Advisors LLC acquired a new position in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 361,369 shares of the Wireless communications provider’s stock, valued at approximately $20,244,000. Anchor Capital Advisors LLC owned 0.46% of Ubiquiti Networks as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Sei Investments Co. boosted its stake 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 valued at $17,534,000 after buying an additional 48,918 shares during the period. Stevens Capital Management LP bought a new stake in shares of Ubiquiti Networks in the third quarter valued at approximately $1,035,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Ubiquiti Networks by 5.4% in 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 buying an additional 1,380 shares during the period. First Trust Advisors LP boosted its stake in shares of Ubiquiti Networks by 10.9% in 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 buying an additional 2,999 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Ubiquiti Networks by 37.5% in the second quarter. Public Employees Retirement System of Ohio now owns 169,700 shares of the Wireless communications provider’s stock valued at $8,819,000 after buying an additional 46,300 shares during the period. Institutional investors and hedge funds own 32.11% of the company’s stock.
In other news, insider Robert J. Pera sold 1,000,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the completion of the transaction, the insider now directly owns 56,278,181 shares in the company, valued at $3,447,038,586.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 72.80% of the stock is currently owned by corporate insiders.
UBNT has been the subject of several research analyst reports. Vetr downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $65.54 price objective for the company. in a research report on Wednesday, August 30th. Credit Suisse Group restated a “sell” rating and set a $54.00 price objective on shares of Ubiquiti Networks in a research report on Friday, August 4th. JMP Securities restated a “market perform” rating on shares of Ubiquiti Networks in a research report on Wednesday, September 27th. ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ubiquiti Networks currently has a consensus rating of “Buy” and an average target price of $56.86.
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Shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) traded up $0.48 during trading hours on Tuesday, hitting $63.02. 240,100 shares of the stock traded hands, compared to its average volume of 632,740. The firm has a market capitalization of $4,868.25, a P/E ratio of 19.92, a PEG ratio of 1.12 and a beta of 0.50. Ubiquiti Networks, Inc. has a 52 week low of $45.71 and a 52 week high of $67.80.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $245.90 million during the quarter, compared to the consensus estimate of $240.39 million. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share. research analysts predict that Ubiquiti Networks, Inc. will post 2.78 earnings per share for the current year.
Ubiquiti Networks announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the Wireless communications provider to reacquire up to 18% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Ubiquiti Networks Company 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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