Great Lakes Advisors LLC Takes $3.10 Million Position in Universal Technical Institute, Inc. (NYSE:UTI)

Great Lakes Advisors LLC bought a new stake in shares of Universal Technical Institute, Inc. (NYSE:UTI) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 197,244 shares of the company’s stock, valued at approximately $3,103,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System acquired a new stake in Universal Technical Institute in the second quarter valued at approximately $189,000. Pembroke Management LTD grew its holdings in Universal Technical Institute by 646.3% during the 2nd quarter. Pembroke Management LTD now owns 369,308 shares of the company’s stock valued at $5,809,000 after purchasing an additional 319,820 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Universal Technical Institute during the 2nd quarter worth $917,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Universal Technical Institute by 95,120.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,522 shares of the company’s stock worth $150,000 after buying an additional 9,512 shares during the period. Finally, Conestoga Capital Advisors LLC acquired a new position in Universal Technical Institute in the 2nd quarter worth $1,224,000. 75.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Universal Technical Institute in a research report on Thursday, August 22nd. Barrington Research restated an “outperform” rating and set a $22.00 price objective on shares of Universal Technical Institute in a report on Wednesday, August 7th. StockNews.com upgraded Universal Technical Institute from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. B. Riley reissued a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Universal Technical Institute in a research report on Thursday, May 30th. Finally, Truist Financial initiated coverage on shares of Universal Technical Institute in a report on Thursday, July 25th. They issued a “buy” rating and a $22.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $21.60.

Insider Activity at Universal Technical Institute

In other Universal Technical Institute news, CEO Jerome Alan Grant sold 68,000 shares of Universal Technical Institute stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 136,443 shares in the company, valued at $2,391,845.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 27.60% of the company’s stock.

Universal Technical Institute Price Performance

Shares of NYSE UTI opened at $16.56 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $891.09 million, a price-to-earnings ratio of 46.00, a price-to-earnings-growth ratio of 1.49 and a beta of 1.35. Universal Technical Institute, Inc. has a twelve month low of $7.78 and a twelve month high of $19.79. The business has a 50 day simple moving average of $17.36 and a 200-day simple moving average of $15.82.

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

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.