Quantitative Investment Management LLC reduced its position in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) by 59.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,500 shares of the Wireless communications provider’s stock after selling 109,100 shares during the period. Quantitative Investment Management LLC’s holdings in Ubiquiti Networks were worth $5,362,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado bought a new stake in shares of Ubiquiti Networks during the fourth quarter worth about $104,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Ubiquiti Networks during the third quarter worth about $178,000. Brown Advisory Inc. bought a new stake in shares of Ubiquiti Networks during the third quarter worth about $211,000. Amalgamated Bank bought a new stake in shares of Ubiquiti Networks during the fourth quarter worth about $216,000. Finally, SG Americas Securities LLC grew its holdings in shares of Ubiquiti Networks by 53.5% during the third quarter. SG Americas Securities LLC now owns 4,248 shares of the Wireless communications provider’s stock worth $238,000 after purchasing an additional 1,480 shares during the last quarter. Institutional investors own 30.81% of the company’s stock.
Ubiquiti Networks Inc (NASDAQ UBNT) opened at $70.73 on Wednesday. The company has a quick ratio of 10.00, a current ratio of 10.94 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $5,500.00, a P/E ratio of 22.17, a P/E/G ratio of 1.95 and a beta of 0.81. Ubiquiti Networks Inc has a 12 month low of $45.71 and a 12 month high of $82.30.
Ubiquiti Networks declared that its board has approved a share buyback program on Thursday, February 8th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the Wireless communications provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Several research firms have recently weighed in on UBNT. Vetr upgraded Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 price target on the stock in a report on Monday, January 22nd. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Friday, January 12th. ValuEngine cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Deutsche Bank boosted their price target on Ubiquiti Networks from $47.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, TheStreet lowered Ubiquiti Networks from an “a” rating to a “c+” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $65.75.
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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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