Assenagon Asset Management S.A. reduced its stake in Universal Technical Institute, Inc. (NYSE:UTI) by 89.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,264 shares of the company’s stock after selling 259,971 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Universal Technical Institute worth $224,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in UTI. Credit Suisse AG purchased a new position in shares of Universal Technical Institute during the fourth quarter worth approximately $445,000. Engineers Gate Manager LP raised its stake in shares of Universal Technical Institute by 158.5% during the 1st quarter. Engineers Gate Manager LP now owns 42,855 shares of the company’s stock worth $255,000 after buying an additional 26,275 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Universal Technical Institute during the 1st quarter worth about $111,000. Geode Capital Management LLC increased its position in Universal Technical Institute by 23.1% during the 4th quarter. Geode Capital Management LLC now owns 147,180 shares of the company’s stock worth $1,133,000 after purchasing an additional 27,606 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new stake in Universal Technical Institute during the 1st quarter worth about $1,189,000. Institutional investors own 62.22% of the company’s stock.
In other Universal Technical Institute news, Director Coliseum Capital Management, L sold 41,475 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $7.06, for a total value of $292,813.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimberly J. Mcwaters sold 14,094 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $7.63, for a total value of $107,537.22. Following the completion of the transaction, the director now directly owns 568,377 shares in the company, valued at $4,336,716.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,216 shares of company stock worth $1,539,861. 16.30% of the stock is currently owned by corporate insiders.
UTI has been the topic of several research analyst reports. Argus reduced their price objective on Universal Technical Institute from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Barrington Research initiated coverage on Universal Technical Institute in a research note on Tuesday, July 21st. They issued an “outperform” rating and a $9.00 price objective on the stock. TheStreet lowered Universal Technical Institute from a “b-” rating to a “c+” rating in a research note on Thursday, July 9th. B. Riley reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Universal Technical Institute in a research note on Wednesday, July 1st. Finally, Zacks Investment Research lowered Universal Technical Institute from a “hold” rating to a “strong sell” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.04.
Universal Technical Institute stock opened at $7.43 on Friday. The stock’s 50 day moving average price is $7.01 and its 200 day moving average price is $6.85. The firm has a market capitalization of $240.30 million, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. Universal Technical Institute, Inc. has a one year low of $2.75 and a one year high of $9.76.
Universal Technical Institute (NYSE:UTI) last announced its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.22. Universal Technical Institute had a return on equity of 15.85% and a net margin of 5.92%. The company had revenue of $82.72 million for the quarter, compared to analyst estimates of $81.60 million. On average, sell-side analysts anticipate that Universal Technical Institute, Inc. will post 0.16 earnings per share for the current year.
Universal Technical Institute Profile
Universal Technical Institute, Inc provides postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle, and marine technicians in the United States. It offers certificate, diploma, or degree programs; and specialized technical education programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute and Marine Mechanics Institute, and NASCAR Technical Institute.
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