The Manufacturers Life Insurance Company Decreases Stake in Ubiquiti Networks, Inc. (UBNT)

The Manufacturers Life Insurance Company reduced its holdings in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 9.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,510 shares of the Wireless communications provider’s stock after selling 1,980 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Ubiquiti Networks were worth $1,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Alps Advisors Inc. boosted its holdings in shares of Ubiquiti Networks by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,389 shares of the Wireless communications provider’s stock valued at $488,000 after buying an additional 24 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Ubiquiti Networks by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after buying an additional 80 shares during the last quarter. Renaissance Group LLC boosted its holdings in shares of Ubiquiti Networks by 2.1% in the 2nd quarter. Renaissance Group LLC now owns 6,612 shares of the Wireless communications provider’s stock valued at $344,000 after buying an additional 136 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Ubiquiti Networks by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 6,069 shares of the Wireless communications provider’s stock valued at $305,000 after buying an additional 223 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Ubiquiti Networks by 11.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock valued at $157,000 after buying an additional 319 shares during the last quarter. 32.11% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the company. ValuEngine raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday. BMO Capital Markets cut their price objective on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating for the company in a report on Friday. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Thursday, October 5th. Vetr downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $62.28 price objective for the company. in a report on Wednesday, October 4th. Finally, JMP Securities reissued a “market perform” rating on shares of Ubiquiti Networks in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.86.

In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the completion of the sale, the insider now owns 56,278,181 shares of the company’s stock, valued at approximately $3,447,038,586.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 72.80% of the company’s stock.

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Shares of Ubiquiti Networks, Inc. (UBNT) opened at $63.02 on Tuesday. Ubiquiti Networks, Inc. has a twelve month low of $45.71 and a twelve month high of $67.80. The stock has a market capitalization of $4,868.25, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.12 and a beta of 0.50.

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, beating the consensus estimate of $0.86 by $0.06. Ubiquiti Networks had a return on equity of 45.45% and a net margin of 28.76%. The business had revenue of $245.90 million during the quarter, compared to the consensus estimate of $240.39 million. During the same quarter last year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. equities research analysts predict that Ubiquiti Networks, Inc. will post 2.78 earnings per share for the current year.

Ubiquiti Networks announced that its board has authorized a share buyback program on Tuesday, September 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the Wireless communications provider to reacquire up to 18% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Ubiquiti Networks 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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Institutional Ownership by Quarter for Ubiquiti Networks (NASDAQ:UBNT)

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