Assenagon Asset Management S.A. Sells 85,131 Shares of Universal Electronics Inc. (NASDAQ:UEIC)

Assenagon Asset Management S.A. lowered its position in shares of Universal Electronics Inc. (NASDAQ:UEIC - Free Report) by 63.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,753 shares of the technology company's stock after selling 85,131 shares during the period. Assenagon Asset Management S.A. owned about 0.37% of Universal Electronics worth $536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC bought a new stake in Universal Electronics in the third quarter worth $163,000. JPMorgan Chase & Co. lifted its stake in shares of Universal Electronics by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company's stock valued at $165,000 after acquiring an additional 4,591 shares during the last quarter. Barclays PLC boosted its holdings in Universal Electronics by 33.5% during the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company's stock valued at $202,000 after acquiring an additional 5,512 shares during the period. Sei Investments Co. bought a new position in Universal Electronics during the 2nd quarter worth approximately $212,000. Finally, Empowered Funds LLC increased its stake in shares of Universal Electronics by 5.3% in the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company's stock worth $397,000 after buying an additional 2,144 shares during the period. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Universal Electronics from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Rosenblatt Securities raised Universal Electronics from a "neutral" rating to a "buy" rating and set a $15.00 price target for the company in a research report on Friday, November 8th. Finally, B. Riley upgraded Universal Electronics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $11.00 to $14.00 in a report on Monday, November 11th.

Insider Buying and Selling at Universal Electronics

In other Universal Electronics news, Director Edward K. Zinser sold 2,500 shares of Universal Electronics stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total transaction of $26,700.00. Following the completion of the transaction, the director now owns 38,062 shares in the company, valued at approximately $406,502.16. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul D. Arling sold 13,185 shares of the business's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value of $154,660.05. Following the completion of the sale, the chief executive officer now directly owns 283,615 shares in the company, valued at $3,326,803.95. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.37% of the company's stock.

Universal Electronics Price Performance

UEIC stock traded down $0.41 during trading on Friday, reaching $10.35. The company had a trading volume of 53,167 shares, compared to its average volume of 38,510. Universal Electronics Inc. has a 52 week low of $7.53 and a 52 week high of $14.20. The business has a 50 day moving average of $11.03 and a 200 day moving average of $10.04.

Universal Electronics (NASDAQ:UEIC - Get Free Report) last announced its earnings results on Thursday, November 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.16). Universal Electronics had a negative return on equity of 8.61% and a negative net margin of 6.96%. The firm had revenue of $102.07 million during the quarter, compared to the consensus estimate of $102.57 million. During the same period in the prior year, the company posted ($1.50) EPS. On average, sell-side analysts forecast that Universal Electronics Inc. will post -0.44 EPS for the current year.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People's Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.