Lord Abbett & CO. LLC bought a new position in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 628,371 shares of the company's stock, valued at approximately $10,217,000. Lord Abbett & CO. LLC owned 1.16% of Universal Technical Institute as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd grew its holdings in Universal Technical Institute by 6,256.0% in the third quarter. Covestor Ltd now owns 1,589 shares of the company's stock worth $26,000 after purchasing an additional 1,564 shares during the last quarter. RiverPark Advisors LLC acquired a new position in Universal Technical Institute during the 2nd quarter valued at approximately $43,000. Quarry LP raised its holdings in shares of Universal Technical Institute by 380.6% in the third quarter. Quarry LP now owns 3,859 shares of the company's stock worth $63,000 after buying an additional 3,056 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Universal Technical Institute by 1,526.0% during the third quarter. International Assets Investment Management LLC now owns 4,065 shares of the company's stock worth $66,000 after buying an additional 3,815 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Universal Technical Institute by 95,120.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,522 shares of the company's stock valued at $150,000 after buying an additional 9,512 shares during the last quarter. Institutional investors own 75.67% of the company's stock.
Insider Buying and Selling
In related news, Director Kenneth R. Trammell sold 30,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were 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 owns 128,205 shares of the company's stock, valued at approximately $3,323,073.60. This represents a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 27.60% of the company's stock.
Universal Technical Institute Price Performance
NYSE UTI traded down $0.29 on Tuesday, hitting $26.21. The company had a trading volume of 360,686 shares, compared to its average volume of 533,155. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.08. The company's fifty day moving average price is $20.67 and its 200-day moving average price is $17.94. The company has a market capitalization of $1.42 billion, a PE ratio of 35.42, a PEG ratio of 1.78 and a beta of 1.48. Universal Technical Institute, Inc. has a 12-month low of $10.46 and a 12-month high of $26.71.
Wall Street Analyst Weigh In
UTI has been the topic of a number of recent research reports. Lake Street Capital upped their target price on Universal Technical Institute from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. B. Riley raised their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Rosenblatt Securities raised their target price on Universal Technical Institute from $22.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Barrington Research raised their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Finally, Truist Financial boosted their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Universal Technical Institute currently has a consensus rating of "Buy" and a consensus target price of $25.33.
View Our Latest Report on Universal Technical Institute
Universal Technical Institute Profile
(
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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