Ubiquiti Networks, Inc. (UBNT) Issues Earnings Results, Beats Estimates By $0.06 EPS

Marco Green
November 12, 2017

The ratio worsened, as 64 active investment managers opened new and increased holdings, while 84 sold and decreased stock positions in Ubiquiti Networks Inc. (NASDAQ:UBNT) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,248 shares of the Wireless communications provider's stock after selling 1,809 shares during the period.

Recent changes in institutional ownership at Ubiquiti Networks, Inc. Pacer Advisors Inc. grew its stake in Ubiquiti Networks by 11.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider's stock worth $102,000 after acquiring an additional 80 shares during the last quarter. Also, the number of active investment managers holding Ubiquiti Networks Inc in their top 10 holdings was flat from 3 to 3 for the same number. EdgePoint Investment Management Inc is the second biggest holder with 5 million shares now valued at 251.09 million whilst Akre Capital Management, LLC has 3 million shares valued at 139.28 million. SG Americas Securities LLC acquired a new position in Ubiquiti Networks during the second quarter valued at approximately $144,000. Goldman Sachs Group Inc. lifted its stake in Ubiquiti Networks by 115.8% in the first quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Ubiquiti Networks by 138.8% in the second quarter. Quantitative Investment Management LLC now owns 194,600 shares of the Wireless communications provider's stock valued at $10,113,000 after purchasing an additional 90,100 shares during the last quarter. The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) has "Hold" rating given on Friday, August 7 by Deutsche Bank.

The total number of shares of a company owned out there (shares owned by institutional investors, insiders and officers included) are called the company's "shares outstanding". The lowest target is $14 while the high is $66.

Ubiquiti Networks (UBNT) traded down $0.09 during trading hours on Friday, hitting $62.54. 390,701 shares of the stock traded hands, compared to its average volume of 447,958. Its down -0.24, from 1 in 2017Q1. The company has a quick ratio of 8.23, a current ratio of 9.67 and a debt-to-equity ratio of 0.40.

Ubiquiti Networks ( UBNT ) on Thursday reported fiscal first-quarter adjusted earnings and revenue that topped views but December quarter guidance missed estimates. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. During the same period in the previous year, the business posted $0.79 EPS. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks, Inc. with MarketBeat.com's FREE daily email newsletter.

Ubiquiti Networks announced that its Board of Directors has authorized a stock buyback plan on Tuesday, September 5th that authorizes the company to repurchase $50.00 million in shares. This buyback authorization permits the Wireless communications provider to purchase up to 18% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

For the December quarter, Ubiquiti forecast adjusted profit in a range of 85 cents to 92 cents vs. estimates of 94 cents a share. "(UBNT)" was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another domain, it was illegally copied and republished in violation of US and global trademark and copyright law. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/11/11/vanguard-group-inc-sells-8873-shares-of-ubiquiti-networks-inc-ubnt.html. Analysts expected the company to report earnings of 86 cents on sales of $235.5 million for the period ended September 30. BidaskClub downgraded shares of Ubiquiti Networks from a "buy" rating to a "hold" rating in a research note on Sunday, July 16th. The stock of Ubiquiti Networks Inc (NASDAQ:UBNT) has "Hold" rating given on Wednesday, August 2 by BMO Capital Markets. The stock's average target of $42 is -32.84% below today's ($62.54) share price.

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