Deutsche Bank AG grew its holdings in shares of Ubiquiti Networks (NASDAQ:UBNT) by 80.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,913 shares of the Wireless communications provider’s stock after buying an additional 24,012 shares during the quarter. Deutsche Bank AG owned 0.07% of Ubiquiti Networks worth $3,826,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hunt Lane Capital LP raised its position in shares of Ubiquiti Networks by 10.9% during the 4th quarter. Hunt Lane Capital LP now owns 698,544 shares of the Wireless communications provider’s stock valued at $49,611,000 after buying an additional 68,544 shares in the last quarter. Burney Co. raised its position in Ubiquiti Networks by 1.6% in the 4th quarter. Burney Co. now owns 56,998 shares of the Wireless communications provider’s stock worth $4,048,000 after purchasing an additional 921 shares during the period. Amalgamated Bank purchased a new stake in Ubiquiti Networks in the 4th quarter worth about $216,000. Carnegie Capital Asset Management LLC raised its position in Ubiquiti Networks by 4.6% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 55,375 shares of the Wireless communications provider’s stock worth $4,347,000 after purchasing an additional 2,415 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in Ubiquiti Networks in the 4th quarter worth about $4,681,000. Hedge funds and other institutional investors own 31.12% of the company’s stock.
Shares of UBNT stock opened at $73.70 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 10.00 and a current ratio of 10.94. The stock has a market capitalization of $5,576.36, a price-to-earnings ratio of 23.85, a P/E/G ratio of 2.00 and a beta of 0.78. Ubiquiti Networks has a one year low of $45.71 and a one year high of $82.30.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.06. The business had revenue of $250.80 million for the quarter, compared to the consensus estimate of $239.89 million. Ubiquiti Networks had a net margin of 15.73% and a return on equity of 47.42%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. equities analysts forecast that Ubiquiti Networks will post 1.93 EPS for the current fiscal year.
Ubiquiti Networks declared that its Board of Directors 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently weighed in on UBNT. BidaskClub lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 11th. ValuEngine raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Vetr raised shares of Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 price objective on the stock in a research report on Monday, January 22nd. Zacks Investment Research lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Monday, January 15th. Finally, BMO Capital Markets increased their price objective on shares of Ubiquiti Networks from $60.00 to $63.00 and gave the stock a “market perform” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $65.75.
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About Ubiquiti Networks
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. 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 complimentary WLAN products.
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