Universal Technical Institute, Inc. (NYSE:UTI) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in Universal Technical Institute, Inc. (NYSE:UTI) by 20.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,175 shares of the company’s stock after selling 8,287 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Universal Technical Institute worth $500,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new position in shares of Universal Technical Institute during the second quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Universal Technical Institute by 95,120.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,522 shares of the company’s stock valued at $150,000 after purchasing an additional 9,512 shares during the period. EntryPoint Capital LLC increased its holdings in shares of Universal Technical Institute by 54.2% in the first quarter. EntryPoint Capital LLC now owns 10,365 shares of the company’s stock valued at $165,000 after purchasing an additional 3,643 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Universal Technical Institute during the first quarter worth approximately $181,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Universal Technical Institute during the first quarter worth $183,000. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Universal Technical Institute Price Performance

UTI stock opened at $16.26 on Tuesday. The firm has a 50 day moving average of $17.19 and a 200-day moving average of $15.98. The company has a market cap of $874.95 million, a price-to-earnings ratio of 45.17, a PEG ratio of 1.52 and a beta of 1.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Universal Technical Institute, Inc. has a 12-month low of $7.78 and a 12-month high of $19.79.

Universal Technical Institute (NYSE:UTI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $177.46 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted ($0.05) earnings per share. As a group, equities analysts expect that Universal Technical Institute, Inc. will post 0.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on UTI shares. Truist Financial initiated coverage on shares of Universal Technical Institute in a research note on Thursday, July 25th. They issued a “buy” rating and a $22.00 price objective on the stock. StockNews.com raised shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Barrington Research reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Universal Technical Institute in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $22.00 target price on shares of Universal Technical Institute in a research note on Wednesday, September 11th. Finally, Northland Securities upped their price objective on Universal Technical Institute from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $21.60.

Insiders Place Their Bets

In other news, CEO Jerome Alan Grant sold 68,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $17.53, for a total value of $1,192,040.00. Following the sale, the chief executive officer now directly owns 136,443 shares in the company, valued at $2,391,845.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.60% of the stock is currently owned by company insiders.

Universal Technical Institute Profile

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.