Ubiquiti Networks Inc (UBNT) Position Boosted by BNP Paribas Arbitrage SA

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BNP Paribas Arbitrage SA increased its position in Ubiquiti Networks Inc (NASDAQ:UBNT) by 61.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,480 shares of the Wireless communications provider’s stock after buying an additional 3,603 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Ubiquiti Networks were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. US Bancorp DE lifted its position in Ubiquiti Networks by 123.5% in the first quarter. US Bancorp DE now owns 2,284 shares of the Wireless communications provider’s stock valued at $157,000 after purchasing an additional 1,262 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in Ubiquiti Networks in the fourth quarter valued at approximately $203,000. Amalgamated Bank bought a new stake in Ubiquiti Networks in the fourth quarter valued at approximately $216,000. HPM Partners LLC bought a new stake in Ubiquiti Networks in the fourth quarter valued at approximately $217,000. Finally, SG Americas Securities LLC bought a new stake in Ubiquiti Networks in the first quarter valued at approximately $247,000. Institutional investors own 30.38% of the company’s stock.

Shares of Ubiquiti Networks stock opened at $84.96 on Friday. The company has a quick ratio of 6.08, a current ratio of 6.69 and a debt-to-equity ratio of 1.63. The company has a market cap of $6.11 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.84 and a beta of 0.75. Ubiquiti Networks Inc has a 52 week low of $47.78 and a 52 week high of $89.99.

Ubiquiti Networks (NASDAQ:UBNT) last announced its earnings results on Thursday, May 10th. The Wireless communications provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $250.40 million during the quarter, compared to the consensus estimate of $247.92 million. Ubiquiti Networks had a return on equity of 56.13% and a net margin of 19.15%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. equities analysts predict that Ubiquiti Networks Inc will post 2.42 earnings per share for the current fiscal year.

Ubiquiti Networks declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 13th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several analysts have weighed in on UBNT shares. Credit Suisse Group started coverage on Ubiquiti Networks in a research report on Wednesday, May 9th. They issued a “neutral” rating and a $74.00 price objective for the company. ValuEngine upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. BidaskClub downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 11th. TheStreet upgraded Ubiquiti Networks from a “c+” rating to a “b+” rating in a research report on Wednesday, May 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $74.00 price objective on shares of Ubiquiti Networks in a research report on Friday, May 11th. Six equities research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.95.

Ubiquiti Networks Company Profile

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.

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

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