Bank of America Corp DE Acquires 9,806 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Bank of America Corp DE grew its position in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 33.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,138 shares of the company's stock after acquiring an additional 9,806 shares during the quarter. Bank of America Corp DE owned about 0.07% of Universal Technical Institute worth $1,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UTI. Covestor Ltd raised its holdings in Universal Technical Institute by 24.4% during the 4th quarter. Covestor Ltd now owns 1,977 shares of the company's stock valued at $51,000 after buying an additional 388 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Universal Technical Institute during the 4th quarter valued at $79,000. Aquatic Capital Management LLC purchased a new stake in Universal Technical Institute during the 4th quarter valued at $118,000. Meeder Asset Management Inc. raised its holdings in Universal Technical Institute by 418.6% during the 4th quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company's stock valued at $202,000 after buying an additional 6,337 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in Universal Technical Institute during the 4th quarter valued at $203,000. 75.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Universal Technical Institute news, COO Todd A. Hitchcock sold 27,500 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $33.36, for a total value of $917,400.00. Following the completion of the transaction, the chief operating officer now directly owns 80,521 shares of the company's stock, valued at approximately $2,686,180.56. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George W. Brochick sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $31.84, for a total value of $191,040.00. Following the completion of the sale, the director now owns 32,516 shares of the company's stock, valued at $1,035,309.44. This trade represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 120,024 shares of company stock valued at $3,466,170 over the last quarter. 15.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Rosenblatt Securities restated a "buy" rating and set a $36.00 price target on shares of Universal Technical Institute in a report on Thursday, May 8th. Barrington Research increased their price target on Universal Technical Institute from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. B. Riley assumed coverage on Universal Technical Institute in a report on Friday, March 28th. They set a "buy" rating and a $31.00 price target on the stock. Lake Street Capital restated a "buy" rating and set a $38.00 price target (up previously from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. Finally, Truist Financial increased their target price on Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Universal Technical Institute currently has an average rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute Price Performance

UTI opened at $35.33 on Friday. The business's 50-day moving average is $30.67 and its two-hundred day moving average is $27.98. Universal Technical Institute, Inc. has a 1 year low of $13.66 and a 1 year high of $36.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $1.92 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 1.92 and a beta of 1.61.

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

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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