Baird Financial Group Inc. Purchases New Position in Universal Technical Institute Inc $UTI

Key Points

• Baird Financial Group acquired 314,959 shares of Universal Technical Institute in the second quarter, worth approximately $13.5 million and representing about 0.57% of the company. Institutional investors collectively own 75.67% of UTI.
• UTI reported quarterly EPS of $0.04, beating estimates of $0.02, while revenue of $218.91 million fell slightly short of the $220.40 million consensus forecast.
• Shares opened at $20.22, near their 52-week low of $20.18 and well below the $51.34 high. Despite the decline, analysts maintain a “Moderate Buy” consensus with an average price target of $42.83.

Baird Financial Group Inc. purchased a new stake in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 314,959 shares of the company's stock, valued at approximately $13,471,000. Baird Financial Group Inc. owned approximately 0.57% of Universal Technical Institute at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Universal Technical Institute during the second quarter valued at $323,080,000. Coliseum Capital Management LLC grew its position in Universal Technical Institute by 46.2% in the fourth quarter. Coliseum Capital Management LLC now owns 3,971,440 shares of the company's stock worth $103,774,000 after acquiring an additional 1,255,173 shares in the last quarter. California State Teachers Retirement System increased its stake in Universal Technical Institute by 3,504.2% during the second quarter. California State Teachers Retirement System now owns 2,423,434 shares of the company's stock worth $103,650,000 after acquiring an additional 2,356,195 shares during the last quarter. Wasatch Advisors LP increased its stake in Universal Technical Institute by 22.5% during the third quarter. Wasatch Advisors LP now owns 2,361,019 shares of the company's stock worth $76,851,000 after acquiring an additional 433,824 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Universal Technical Institute by 132.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,998,354 shares of the company's stock valued at $52,217,000 after purchasing an additional 1,140,465 shares during the period. Institutional investors own 75.67% of the company's stock.

Universal Technical Institute Price Performance

Shares of UTI stock opened at $20.22 on Friday. Universal Technical Institute Inc has a 52-week low of $20.18 and a 52-week high of $51.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $1.11 billion, a P/E ratio of 32.62, a P/E/G ratio of 2.23 and a beta of 1.17. The stock has a 50 day moving average price of $32.09 and a 200 day moving average price of $36.01.

Universal Technical Institute (NYSE:UTI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. Universal Technical Institute had a return on equity of 10.18% and a net margin of 3.88%.The company had revenue of $218.91 million for the quarter, compared to the consensus estimate of $220.40 million. As a group, sell-side analysts predict that Universal Technical Institute Inc will post 0.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UTI. Weiss Ratings raised Universal Technical Institute from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Northland Securities set a $35.00 target price on Universal Technical Institute in a research report on Thursday. Rosenblatt Securities restated a "buy" rating and set a $45.00 price target on shares of Universal Technical Institute in a report on Thursday, August 6th. Truist Financial lowered their price target on Universal Technical Institute from $47.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, B. Riley Financial dropped their price objective on shares of Universal Technical Institute from $49.00 to $48.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Universal Technical Institute currently has a consensus rating of "Moderate Buy" and an average price target of $42.83.

Insider Transactions at Universal Technical Institute

In related news, insider Kevin Prehn sold 4,545 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $40.00, for a total value of $181,800.00. Following the transaction, the insider owned 27,025 shares of the company's stock, valued at $1,081,000. This trade represents a 14.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jerome Grant sold 94,500 shares of Universal Technical Institute stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $41.40, for a total transaction of $3,912,300.00. Following the sale, the chief executive officer owned 335,715 shares of the company's stock, valued at $13,898,601. The trade was a 21.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.80% of the company's stock.

Universal Technical Institute Profile

Universal Technical Institute, Inc NYSE: UTI is a provider of postsecondary education and training for careers in the transportation, skilled trades and energy industries. The company offers programs in automotive, diesel, collision repair, motorcycle, marine, welding, CNC machining, wind energy and other technical fields, combining classroom instruction with hands-on laboratory experience.

Universal Technical Institute operates through a portfolio of specialized school brands, including Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute and MIAT College of Technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.