Resolute Capital Asset Partners LLC Invests $3.53 Million in Universal Technical Institute, Inc. (NYSE:UTI)

Resolute Capital Asset Partners LLC purchased a new position in Universal Technical Institute, Inc. (NYSE:UTI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 224,652 shares of the company’s stock, valued at approximately $3,534,000. Universal Technical Institute comprises 2.0% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 18th largest position. Resolute Capital Asset Partners LLC owned 0.42% of Universal Technical Institute at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Universal Technical Institute by 55.0% in the first quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock valued at $37,872,000 after purchasing an additional 842,765 shares during the period. Dimensional Fund Advisors LP increased its position in Universal Technical Institute by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,004,788 shares of the company’s stock valued at $31,533,000 after acquiring an additional 36,135 shares during the period. American Century Companies Inc. raised its stake in Universal Technical Institute by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 765,562 shares of the company’s stock valued at $12,042,000 after acquiring an additional 39,553 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Universal Technical Institute during the 2nd quarter worth $9,032,000. Finally, First Eagle Investment Management LLC grew its stake in shares of Universal Technical Institute by 37.2% in the second quarter. First Eagle Investment Management LLC now owns 518,888 shares of the company’s stock worth $8,162,000 after purchasing an additional 140,600 shares in the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.

Universal Technical Institute Stock Performance

UTI opened at $16.64 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.56. The firm has a market cap of $895.40 million, a PE ratio of 46.22, a P/E/G ratio of 1.58 and a beta of 1.35. The business has a fifty day simple moving average of $17.38 and a 200-day simple moving average of $15.89. Universal Technical Institute, Inc. has a fifty-two week low of $7.78 and a fifty-two week high of $19.79.

Universal Technical Institute (NYSE:UTI) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $177.46 million during the quarter, compared to analyst estimates of $172.33 million. Universal Technical Institute had a return on equity of 12.66% and a net margin of 3.82%. During the same quarter last year, the company posted ($0.05) EPS. As a group, equities analysts predict that Universal Technical Institute, Inc. will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UTI. Truist Financial assumed coverage on shares of Universal Technical Institute in a research note on Thursday, July 25th. They set a “buy” rating and a $22.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of Universal Technical Institute in a research note on Thursday, May 30th. Northland Securities raised their price objective on shares of Universal Technical Institute from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Barrington Research restated an “outperform” rating and issued a $22.00 target price on shares of Universal Technical Institute in a research report on Wednesday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price target on shares of Universal Technical Institute in a research report on Wednesday, September 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.60.

Insider Buying and Selling

In other news, CEO Jerome Alan Grant sold 68,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $17.53, for a total value of $1,192,040.00. Following the completion of the sale, the chief executive officer now owns 136,443 shares of the company’s stock, valued at $2,391,845.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 27.60% of the company’s stock.

About Universal Technical Institute

Universal Technical Institute, Inc provides transportation, skilled trades, and healthcare education programs in the United States. The company operates in two segments, UTI and Concorde. It offers certificate, diploma, or degree programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.