Universal Technical Institute (NYSE:UTI) Trading Down 3.9% Following Insider Selling

Shares of Universal Technical Institute, Inc. (NYSE:UTI) fell 3.9% during trading on Monday following insider selling activity. The company traded as low as $16.49 and last traded at $16.65. 122,998 shares were traded during trading, a decline of 79% from the average session volume of 590,821 shares. The stock had previously closed at $17.33.

Specifically, CEO Jerome Alan Grant sold 68,000 shares of Universal Technical Institute stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the sale, the chief executive officer now directly owns 136,443 shares in the company, valued at $2,391,845.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UTI shares. Barrington Research reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Universal Technical Institute in a report on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of Universal Technical Institute in a report on Thursday. Truist Financial assumed coverage on Universal Technical Institute in a report on Thursday, July 25th. They set a “buy” rating and a $22.00 price objective on the stock. Northland Securities lifted their target price on Universal Technical Institute from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.60.

Universal Technical Institute Price Performance

The firm’s 50 day simple moving average is $16.84 and its two-hundred day simple moving average is $15.70. The firm has a market capitalization of $895.94 million, a P/E ratio of 48.14, a P/E/G ratio of 1.64 and a beta of 1.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.02 and a quick ratio of 1.02.

Universal Technical Institute (NYSE:UTI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Universal Technical Institute had a return on equity of 12.66% and a net margin of 3.82%. The firm had revenue of $177.46 million during the quarter, compared to the consensus estimate of $172.33 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. As a group, analysts predict that Universal Technical Institute, Inc. will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Universal Technical Institute

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Universal Technical Institute by 55.0% during the first quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock valued at $37,872,000 after buying an additional 842,765 shares during the period. Dimensional Fund Advisors LP grew its holdings in Universal Technical Institute by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,004,788 shares of the company’s stock worth $31,533,000 after purchasing an additional 36,135 shares during the period. American Century Companies Inc. increased its stake in shares of Universal Technical Institute by 5.4% during the second quarter. American Century Companies Inc. now owns 765,562 shares of the company’s stock valued at $12,042,000 after purchasing an additional 39,553 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Universal Technical Institute during the second quarter valued at approximately $9,032,000. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Universal Technical Institute by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 518,888 shares of the company’s stock valued at $8,162,000 after purchasing an additional 140,600 shares during the last quarter. Hedge funds and other institutional investors own 75.67% 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.