Principal Financial Group Inc. acquired a new stake in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 24,288 shares of the company's stock, valued at approximately $395,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Covestor Ltd boosted its position in shares of Universal Technical Institute by 6,256.0% during the third quarter. Covestor Ltd now owns 1,589 shares of the company's stock worth $26,000 after acquiring an additional 1,564 shares during the last quarter. Quarry LP boosted its holdings in shares of Universal Technical Institute by 380.6% during the 3rd quarter. Quarry LP now owns 3,859 shares of the company's stock valued at $63,000 after purchasing an additional 3,056 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Universal Technical Institute by 1,526.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,065 shares of the company's stock valued at $66,000 after purchasing an additional 3,815 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Universal Technical Institute in the third quarter worth about $152,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 worth $150,000 after buying an additional 9,512 shares in the last quarter. Institutional investors own 75.67% of the company's stock.
Insider Activity
In other news, Director Kenneth R. Trammell sold 30,000 shares of Universal Technical Institute stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $25.92, for a total value of $777,600.00. Following the completion of the sale, the director now directly owns 128,205 shares of the company's stock, valued at approximately $3,323,073.60. The trade was a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 27.60% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Rosenblatt Securities boosted their price target on shares of Universal Technical Institute from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Truist Financial raised their price objective on Universal Technical Institute from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Northland Securities boosted their target price on Universal Technical Institute from $24.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Lake Street Capital increased their price target on Universal Technical Institute from $19.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Finally, B. Riley lifted their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $26.33.
View Our Latest Stock Report on Universal Technical Institute
Universal Technical Institute Price Performance
Universal Technical Institute stock traded down $0.45 during trading on Monday, reaching $25.75. The company had a trading volume of 367,513 shares, compared to its average volume of 425,070. The firm's 50-day simple moving average is $23.18 and its 200 day simple moving average is $18.98. Universal Technical Institute, Inc. has a 1-year low of $12.14 and a 1-year high of $26.71. The firm has a market capitalization of $1.39 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 1.78 and a beta of 1.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.08 and a current ratio of 1.08.
About Universal Technical Institute
(
Free Report)
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.
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