1,866,779 Shares in Universal Technical Institute Inc $UTI Acquired by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. acquired a significant stake in Universal Technical Institute Inc, purchasing 1,866,779 shares valued at approximately $63.3 million, which constitutes about 3.43% of the company's stock.
• The company reported an earnings per share (EPS) of $0.19 for the last quarter, exceeding analysts' expectations of $0.12, while its revenue reached $204.3 million.
• Shares of Universal Technical Institute opened at $30.69, with a market cap of $1.67 billion, while stock analysts maintain an average rating of "Buy" with a consensus target price of $35.83.

Congress Asset Management Co. bought a new stake in Universal Technical Institute Inc (NYSE:UTI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,866,779 shares of the company's stock, valued at approximately $63,265,000. Congress Asset Management Co. owned approximately 3.43% of Universal Technical Institute as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dakota Wealth Management increased its position in shares of Universal Technical Institute by 10.1% in the 2nd quarter. Dakota Wealth Management now owns 43,466 shares of the company's stock valued at $1,473,000 after purchasing an additional 3,972 shares during the last quarter. Annex Advisory Services LLC increased its holdings in Universal Technical Institute by 48.6% in the second quarter. Annex Advisory Services LLC now owns 66,435 shares of the company's stock valued at $2,251,000 after buying an additional 21,741 shares during the last quarter. AFG Fiduciary Services Limited Partnership purchased a new position in Universal Technical Institute in the second quarter valued at $212,000. Westwind Capital acquired a new stake in Universal Technical Institute in the second quarter valued at $10,424,000. Finally, Longboard Asset Management LP purchased a new stake in Universal Technical Institute during the 2nd quarter worth about $214,000. Institutional investors and hedge funds own 75.67% of the company's stock.

Universal Technical Institute Price Performance

Shares of NYSE UTI opened at $30.69 on Friday. The stock has a market cap of $1.67 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.93 and a beta of 1.65. Universal Technical Institute Inc has a twelve month low of $15.14 and a twelve month high of $36.32. The stock has a 50 day moving average of $28.55 and a two-hundred day moving average of $29.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.23.

Universal Technical Institute (NYSE:UTI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.07. Universal Technical Institute had a net margin of 7.79% and a return on equity of 22.12%. The business had revenue of $204.30 million for the quarter, compared to analyst estimates of $200.01 million. On average, research analysts forecast that Universal Technical Institute Inc will post 1 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on UTI. Wall Street Zen downgraded Universal Technical Institute from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $36.00 price target on shares of Universal Technical Institute in a research note on Thursday, August 7th. Finally, Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $35.83.

Universal Technical Institute Company Profile

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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