Edgepoint Investment Group Lowers stake in Ubiquiti Networks Inc (UBNT)

Ubiquiti Networks Inc (UBNT) : Edgepoint Investment Group reduced its stake in Ubiquiti Networks Inc by 1.27% during the most recent quarter end. The investment management company now holds a total of 5,782,063 shares of Ubiquiti Networks Inc which is valued at $290,548,666 after selling 74,365 shares in Ubiquiti Networks Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Ubiquiti Networks Inc makes up approximately 4.78% of Edgepoint Investment Group’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd reduced its stake in UBNT by selling 175 shares or 1.23% in the most recent quarter. The Hedge Fund company now holds 14,091 shares of UBNT which is valued at $708,073.Btim Corp. reduced its stake in UBNT by selling 95,818 shares or 21.11% in the most recent quarter. The Hedge Fund company now holds 358,054 shares of UBNT which is valued at $17,780,962. Ubiquiti Networks Inc makes up approx 0.29% of Btim Corp.’s portfolio.California Public Employees Retirement System boosted its stake in UBNT in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 73,200 shares of Ubiquiti Networks Inc which is valued at $3,261,060. Ubiquiti Networks Inc makes up approx 0.01% of California Public Employees Retirement System’s portfolio.Woodstock Corp boosted its stake in UBNT in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 11,863 shares of Ubiquiti Networks Inc which is valued at $528,497. Ubiquiti Networks Inc makes up approx 0.11% of Woodstock Corp’s portfolio.Quantbot Technologies Lp reduced its stake in UBNT by selling 1,254 shares or 80.38% in the most recent quarter. The Hedge Fund company now holds 306 shares of UBNT which is valued at $13,632.

Ubiquiti Networks Inc opened for trading at $50.09 and hit $50.8 on the upside on Friday, eventually ending the session at $50.56, with a gain of 1.04% or 0.52 points. The heightened volatility saw the trading volume jump to 3,41,221 shares. Company has a market cap of $4,193 M.

On the company’s financial health, Ubiquiti Networks Inc reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.64. The company had revenue of $185.70 million for the quarter, compared to analysts expectations of $174.47 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Ubiquiti Networks Inc. Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $48 .

Ubiquiti Networks Inc. develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure video surveillance products and machine-to-machine communications. The Company offers products and solutions based on its proprietary technology with disruptive price-performance characteristics across multiple markets.

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