Assetmark Inc. Sells 485 Shares of Ubiquiti Inc. (NYSE:UI)

Assetmark Inc. lessened its position in Ubiquiti Inc. (NYSE:UI) by 15.5% in the third quarter, HoldingsChannel.com reports. The fund owned 2,650 shares of the company’s stock after selling 485 shares during the period. Assetmark Inc.’s holdings in Ubiquiti were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hanseatic Management Services Inc. bought a new stake in shares of Ubiquiti during the 3rd quarter worth about $76,000. US Bancorp DE boosted its holdings in shares of Ubiquiti by 3.9% during the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company’s stock worth $341,000 after buying an additional 57 shares during the period. Semanteon Capital Management LP bought a new stake in shares of Ubiquiti during the 3rd quarter worth about $599,000. Wealth Enhancement Advisory Services LLC bought a new stake in Ubiquiti in the 3rd quarter valued at about $266,000. Finally, Raleigh Capital Management Inc. bought a new stake in Ubiquiti in the 3rd quarter valued at about $47,000. Institutional investors own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UI. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a report on Monday, November 11th. BWS Financial boosted their price objective on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Barclays boosted their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a report on Monday, November 11th.

Ubiquiti Price Performance

Shares of NYSE:UI opened at $334.85 on Friday. The firm has a 50 day moving average of $243.08 and a 200-day moving average of $186.31. The stock has a market capitalization of $20.25 billion, a PE ratio of 52.65 and a beta of 1.13. The company has a current ratio of 2.54, a quick ratio of 1.59 and a debt-to-equity ratio of 2.80. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $355.31.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The firm had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s payout ratio is presently 37.15%.

Ubiquiti 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, door access systems, and other WLAN products.