Connor Clark & Lunn Investment Management Ltd. Buys 8,706 Shares of Universal Electronics Inc. (NASDAQ:UEIC)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Universal Electronics Inc. (NASDAQ:UEIC) by 15.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 65,979 shares of the technology company’s stock after buying an additional 8,706 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.51% of Universal Electronics worth $609,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of UEIC. Bank of New York Mellon Corp bought a new stake in shares of Universal Electronics during the second quarter worth approximately $122,000. Sei Investments Co. acquired a new position in Universal Electronics in the 2nd quarter valued at $212,000. Empowered Funds LLC increased its position in Universal Electronics by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after buying an additional 2,144 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Universal Electronics by 4.3% during the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Universal Electronics by 18.0% in the second quarter. Assenagon Asset Management S.A. now owns 140,077 shares of the technology company’s stock valued at $1,628,000 after acquiring an additional 21,337 shares during the period. 79.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Universal Electronics Stock Up 1.1 %

Shares of Universal Electronics stock opened at $11.44 on Friday. The firm’s 50-day moving average price is $9.22 and its two-hundred day moving average price is $10.23. The company has a market capitalization of $149.06 million, a price-to-earnings ratio of -5.58 and a beta of 1.13. Universal Electronics Inc. has a 12-month low of $7.17 and a 12-month high of $14.20.

Insider Activity at Universal Electronics

In other Universal Electronics news, Director Edward K. Zinser sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total value of $26,700.00. Following the sale, the director now owns 38,062 shares of the company’s stock, valued at approximately $406,502.16. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.37% of the stock is currently owned by insiders.

Universal Electronics Profile

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.