Universal Technical Institute, Inc. (NYSE:UTI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in shares of Universal Technical Institute, Inc. (NYSE:UTI) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,188,994 shares of the company’s stock after selling 80,400 shares during the period. Renaissance Technologies LLC owned about 2.21% of Universal Technical Institute worth $18,703,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UTI. Vanguard Group Inc. boosted its position in Universal Technical Institute by 55.0% during the first quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock worth $37,872,000 after purchasing an additional 842,765 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Universal Technical Institute in the 2nd quarter worth about $9,032,000. Pembroke Management LTD grew its stake in Universal Technical Institute by 646.3% in the 2nd quarter. Pembroke Management LTD now owns 369,308 shares of the company’s stock valued at $5,809,000 after acquiring an additional 319,820 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Universal Technical Institute by 2,058.7% during the 1st quarter. Acadian Asset Management LLC now owns 298,849 shares of the company’s stock valued at $4,763,000 after acquiring an additional 285,005 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Universal Technical Institute by 341.1% during the first quarter. Russell Investments Group Ltd. now owns 334,332 shares of the company’s stock worth $5,329,000 after acquiring an additional 258,532 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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 shares were sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the transaction, the chief executive officer now directly owns 136,443 shares of the company’s stock, valued at $2,391,845.79. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 27.60% of the company’s stock.

Universal Technical Institute Stock Performance

NYSE UTI opened at $16.46 on Friday. The company has a market capitalization of $885.56 million, a PE ratio of 46.44, a price-to-earnings-growth ratio of 1.58 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 company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $17.41 and its 200 day moving average price is $15.90.

Universal Technical Institute (NYSE:UTI) last issued its 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 firm had revenue of $177.46 million for 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 quarter last year, the firm earned ($0.05) earnings per share. On average, research analysts predict that Universal Technical Institute, Inc. will post 0.71 earnings per share for the current year.

Universal Technical Institute Company 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.