Ancora Advisors LLC Reduces 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 trimmed its holdings in Universal Electronics Inc. (NASDAQ:UEIC - Free Report) by 75.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,315 shares of the technology company's stock after selling 116,479 shares during the quarter. Ancora Advisors LLC owned approximately 0.29% of Universal Electronics worth $234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of UEIC. Dimensional Fund Advisors LP raised its holdings in shares of Universal Electronics by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 453,403 shares of the technology company's stock worth $4,987,000 after buying an additional 50,003 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Universal Electronics in the fourth quarter worth approximately $139,000. Jane Street Group LLC grew its stake in Universal Electronics by 89.5% in the fourth quarter. Jane Street Group LLC now owns 33,497 shares of the technology company's stock worth $368,000 after purchasing an additional 15,819 shares in the last quarter. Millennium Management LLC grew its stake in Universal Electronics by 63.9% in the fourth quarter. Millennium Management LLC now owns 62,972 shares of the technology company's stock worth $693,000 after purchasing an additional 24,541 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Universal Electronics in the fourth quarter worth approximately $121,000. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Universal Electronics Trading Down 1.3%

Shares of UEIC stock traded down $0.06 during trading hours on Wednesday, reaching $4.71. 69,931 shares of the company's stock were exchanged, compared to its average volume of 69,845. The stock's 50 day moving average is $5.74 and its 200-day moving average is $6.15. The company has a market cap of $62.83 million, a price-to-earnings ratio of -3.77 and a beta of 1.62. Universal Electronics Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $12.50.

Universal Electronics 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.