Universal Technical Institute, Inc. (NYSE:UTI) Shares Bought by Pier Capital LLC

Pier Capital LLC increased its stake in Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 57.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 553,382 shares of the company's stock after acquiring an additional 201,573 shares during the period. Universal Technical Institute makes up 1.3% of Pier Capital LLC's investment portfolio, making the stock its 17th largest position. Pier Capital LLC owned about 1.03% of Universal Technical Institute worth $8,998,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. State Street Corp boosted its position in shares of Universal Technical Institute by 3.6% in the third quarter. State Street Corp now owns 856,091 shares of the company's stock worth $13,920,000 after acquiring an additional 29,461 shares during the last quarter. Quarry LP raised its holdings in Universal Technical Institute by 380.6% in the third quarter. Quarry LP now owns 3,859 shares of the company's stock valued at $63,000 after buying an additional 3,056 shares during the period. Morse Asset Management Inc purchased a new position in Universal Technical Institute in the third quarter valued at approximately $152,000. Needham Investment Management LLC raised its holdings in Universal Technical Institute by 3.4% in the third quarter. Needham Investment Management LLC now owns 300,000 shares of the company's stock valued at $4,878,000 after buying an additional 10,000 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Universal Technical Institute in the third quarter valued at approximately $298,000. 75.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UTI shares. Lake Street Capital raised their price target on shares of Universal Technical Institute from $19.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 21st. B. Riley raised their price target on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Northland Securities lifted their price objective on shares of Universal Technical Institute from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Truist Financial lifted their price objective 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. Finally, Barrington Research lifted their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $25.33.

Universal Technical Institute Stock Up 0.7 %

Shares of NYSE:UTI traded up $0.18 during midday trading on Friday, reaching $25.62. The company had a trading volume of 477,930 shares, compared to its average volume of 617,849. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.02. The stock's fifty day moving average price is $19.21 and its 200-day moving average price is $17.41. The stock has a market capitalization of $1.38 billion, a P/E ratio of 34.62, a PEG ratio of 1.77 and a beta of 1.48. Universal Technical Institute, Inc. has a one year low of $10.46 and a one year high of $26.64.

Insider Buying and Selling

In other Universal Technical Institute news, Director Kenneth R. Trammell sold 30,000 shares of Universal Technical Institute stock in a transaction on 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 transaction, the director now owns 128,205 shares of the company's stock, valued at $3,323,073.60. The trade was a 18.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 27.60% of the company's stock.

About Universal Technical Institute

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.