Fred Alger Management LLC Purchases New Position in Universal Technical Institute, Inc. (NYSE:UTI)

Fred Alger Management LLC bought a new stake in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 103,011 shares of the company's stock, valued at approximately $2,648,000. Fred Alger Management LLC owned 0.19% of Universal Technical Institute at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of Universal Technical Institute by 24.4% during the 4th quarter. Covestor Ltd now owns 1,977 shares of the company's stock worth $51,000 after acquiring an additional 388 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Universal Technical Institute in the 4th quarter worth $79,000. Aquatic Capital Management LLC purchased a new position in Universal Technical Institute during the fourth quarter valued at $118,000. Meeder Asset Management Inc. grew its holdings in Universal Technical Institute by 418.6% during the fourth quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company's stock valued at $202,000 after purchasing an additional 6,337 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in Universal Technical Institute during the fourth quarter valued at about $203,000. 75.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on UTI shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research report on Thursday, May 8th. Northland Securities lifted their price target on shares of Universal Technical Institute from $30.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. B. Riley began coverage on shares of Universal Technical Institute in a research note on Friday, March 28th. They issued a "buy" rating and a $31.00 price objective for the company. Barrington Research raised their price objective on shares of Universal Technical Institute from $35.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Lake Street Capital upped their target price on shares of Universal Technical Institute from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $33.00.

Insider Buying and Selling

In other Universal Technical Institute news, EVP Sherrell Smith sold 10,000 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $26.95, for a total value of $269,500.00. Following the completion of the sale, the executive vice president now owns 157,663 shares of the company's stock, valued at $4,249,017.85. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George W. Brochick sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $27.59, for a total value of $220,720.00. Following the transaction, the director now owns 34,917 shares of the company's stock, valued at $963,360.03. This trade represents a 18.64% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,524 shares of company stock valued at $2,578,450. Company insiders own 15.10% of the company's stock.

Universal Technical Institute Price Performance

Shares of UTI stock traded down $2.46 on Tuesday, reaching $31.68. The company's stock had a trading volume of 3,906,562 shares, compared to its average volume of 576,230. The stock's fifty day simple moving average is $27.51 and its 200-day simple moving average is $25.89. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 1.92 and a beta of 1.57. Universal Technical Institute, Inc. has a 1 year low of $13.66 and a 1 year high of $35.49.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. The company had revenue of $207.45 million during the quarter, compared to analyst estimates of $196.63 million. Analysts forecast that Universal Technical Institute, Inc. will post 1 earnings per share for the current fiscal year.

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.