Bank of America Corp DE Increases Stake in Universal Technical Institute Inc $UTI

Bank of America Corp DE increased its stake in Universal Technical Institute Inc (NYSE:UTI - Free Report) by 65.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,586 shares of the company's stock after purchasing an additional 100,570 shares during the period. Bank of America Corp DE owned 0.46% of Universal Technical Institute worth $9,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of UTI. Thrivent Financial for Lutherans increased its position in shares of Universal Technical Institute by 132.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,998,354 shares of the company's stock valued at $52,217,000 after acquiring an additional 1,140,465 shares during the period. UBS Group AG increased its holdings in shares of Universal Technical Institute by 89.0% in the fourth quarter. UBS Group AG now owns 231,717 shares of the company's stock valued at $6,055,000 after purchasing an additional 109,100 shares during the period. Needham Investment Management LLC increased its holdings in shares of Universal Technical Institute by 46.8% in the fourth quarter. Needham Investment Management LLC now owns 807,500 shares of the company's stock valued at $21,100,000 after purchasing an additional 257,500 shares during the period. MYDA Advisors LLC purchased a new position in shares of Universal Technical Institute in the fourth quarter worth about $1,322,000. Finally, Manatuck Hill Partners LLC raised its stake in shares of Universal Technical Institute by 342.8% in the fourth quarter. Manatuck Hill Partners LLC now owns 264,800 shares of the company's stock worth $6,919,000 after purchasing an additional 205,000 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company's stock.

Universal Technical Institute Trading Down 1.3%

Universal Technical Institute stock opened at $22.05 on Tuesday. The firm has a market cap of $1.21 billion, a PE ratio of 35.57, a P/E/G ratio of 2.45 and a beta of 1.25. Universal Technical Institute Inc has a 12 month low of $21.29 and a 12 month high of $51.34. The stock's 50 day simple moving average is $37.80 and its two-hundred day simple moving average is $36.78. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $218.91 million during the quarter, compared to analysts' expectations of $220.40 million. Universal Technical Institute had a net margin of 3.88% and a return on equity of 10.18%. Analysts anticipate that Universal Technical Institute Inc will post 0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UTI shares. Weiss Ratings downgraded shares of Universal Technical Institute from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Truist Financial cut their price objective on shares of Universal Technical Institute from $47.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. B. Riley Financial reduced their target price on shares of Universal Technical Institute from $49.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Rosenblatt Securities restated a "buy" rating and set a $45.00 target price on shares of Universal Technical Institute in a research report on Thursday, August 6th. Finally, Northland Securities set a $41.00 price target on shares of Universal Technical Institute in a report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.83.

Insider Activity

In related news, Director Coliseum Capital Management, L sold 3,000,000 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $41.40, for a total value of $124,200,000.00. Following the completion of the transaction, the director owned 971,440 shares of the company's stock, valued at approximately $40,217,616. This represents a 75.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kevin Prehn sold 4,545 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $40.00, for a total value of $181,800.00. Following the completion of the transaction, the insider directly owned 27,025 shares of the company's stock, valued at $1,081,000. The trade was a 14.40% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,102,545 shares of company stock worth $128,449,570. 9.80% of the stock is currently owned by insiders.

About Universal Technical Institute

Universal Technical Institute, Inc NYSE: UTI is a leading provider of post-secondary education for students pursuing careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, as well as in welding and CNC machining. The company designs and delivers hands-on training through a blend of classroom instruction and experiential lab work, preparing graduates for entry-level positions in the transportation, manufacturing and energy sectors. UTI's curriculum emphasizes industry-recognized credentials and proprietary coursework developed in collaboration with original equipment manufacturers (OEMs) to ensure alignment with evolving employer needs.

Through a network of campus locations across the United States and select centers in Canada, Universal Technical Institute offers diploma and certificate programs ranging from 36 to 74 weeks in length.

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