Ancora Advisors LLC Cuts Position in Universal Electronics Inc. $UEIC

Key Points

• Ancora Advisors LLC significantly reduced its stake in Universal Electronics Inc. by selling 116,479 shares, bringing their holdings down by 75.2%.
• Rosenblatt Securities downgraded Universal Electronics from a "buy" to a "neutral" rating, setting a price objective of $8.00.
• The current market capitalization of Universal Electronics Inc. is $64.03 million, with shares trading at approximately $4.80 as of the latest report.

Ancora Advisors LLC cut its stake in Universal Electronics Inc. (NASDAQ:UEIC - Free Report) by 75.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,315 shares of the technology company's stock after selling 116,479 shares during the period. Ancora Advisors LLC owned approximately 0.29% of Universal Electronics worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of UEIC. Wellington Shields & Co. LLC acquired a new stake in shares of Universal Electronics in the 1st quarter worth $45,000. Jump Financial LLC acquired a new stake in shares of Universal Electronics in the 1st quarter worth $68,000. Hsbc Holdings PLC acquired a new stake in shares of Universal Electronics in the 1st quarter worth $118,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Universal Electronics in the 4th quarter worth $121,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Universal Electronics in the 4th quarter worth $139,000. 79.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Rosenblatt Securities downgraded Universal Electronics from a "buy" rating to a "neutral" rating and set a $8.00 target price for the company. in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Universal Electronics Price Performance

UEIC traded down $0.13 during trading hours on Friday, reaching $4.67. The company's stock had a trading volume of 56,776 shares, compared to its average volume of 70,283. Universal Electronics Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $12.50. The stock has a market cap of $62.30 million, a PE ratio of -3.74 and a beta of 1.62. The business's 50-day moving average is $5.61 and its 200-day moving average is $6.09.

Universal Electronics Company Profile

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.