Hennessy Advisors Inc. grew its stake in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 6.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 690,900 shares of the company's stock after purchasing an additional 44,100 shares during the period. Hennessy Advisors Inc. owned about 1.28% of Universal Technical Institute worth $17,763,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its holdings in 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 buying an additional 1,564 shares in the last quarter. Quarry LP boosted its holdings in Universal Technical Institute by 380.6% during the 3rd quarter. Quarry LP now owns 3,859 shares of the company's stock worth $63,000 after acquiring an additional 3,056 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Universal Technical Institute by 1,526.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,065 shares of the company's stock worth $66,000 after acquiring an additional 3,815 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Universal Technical Institute in the third quarter valued at about $152,000. Finally, ProShare Advisors LLC bought a new position in shares of Universal Technical Institute during the second quarter valued at about $167,000. 75.67% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
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 transaction, the director now directly owns 128,205 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 27.60% of the company's stock.
Universal Technical Institute Stock Performance
Shares of UTI stock traded up $0.57 on Friday, hitting $26.57. 690,790 shares of the stock were exchanged, compared to its average volume of 342,597. The firm's 50 day moving average is $24.77 and its two-hundred day moving average is $19.69. Universal Technical Institute, Inc. has a one year low of $13.23 and a one year high of $27.10. The firm has a market capitalization of $1.44 billion, a PE ratio of 35.91, a P/E/G ratio of 1.71 and a beta of 1.45. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.47.
Analyst Ratings Changes
UTI has been the subject of several analyst reports. Lake Street Capital increased their price objective on shares of Universal Technical Institute from $19.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Barrington Research increased their price target on Universal Technical Institute from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Friday. B. Riley boosted their price objective on Universal Technical Institute from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Rosenblatt Securities raised their target price on Universal Technical Institute from $22.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their target price on Universal Technical Institute from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $27.17.
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About Universal Technical Institute
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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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