Walleye Capital LLC Sells 85,337 Shares of Universal Electronics Inc. (NASDAQ:UEIC)

Walleye Capital LLC lowered its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 52.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,083 shares of the technology company’s stock after selling 85,337 shares during the quarter. Walleye Capital LLC owned approximately 0.58% of Universal Electronics worth $702,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in UEIC. Bank of New York Mellon Corp bought a new position in Universal Electronics during the second quarter valued at about $122,000. Sei Investments Co. bought a new position in Universal Electronics during the second quarter valued at about $212,000. Empowered Funds LLC grew its position in Universal Electronics by 5.3% during the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after buying an additional 2,144 shares during the period. Victory Capital Management Inc. lifted its holdings in Universal Electronics by 4.3% during the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock valued at $496,000 after purchasing an additional 2,203 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Universal Electronics by 15.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock valued at $609,000 after purchasing an additional 8,706 shares during the last quarter. Institutional investors own 79.35% of the company’s stock.

Insider Transactions at Universal Electronics

In other news, Director Edward K. Zinser sold 2,500 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value of $26,700.00. Following the sale, the director now directly owns 38,062 shares of the company’s stock, valued at approximately $406,502.16. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on UEIC shares. StockNews.com raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $14.00 in a report on Monday, November 11th. Finally, Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, November 8th.

Universal Electronics Trading Up 0.9 %

Shares of Universal Electronics stock opened at $11.71 on Friday. Universal Electronics Inc. has a 12-month low of $7.17 and a 12-month high of $14.20. The company has a market cap of $152.56 million, a price-to-earnings ratio of -5.71 and a beta of 1.20. The company’s 50-day moving average price is $9.63 and its 200-day moving average price is $10.22.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.