Bank of America Corp DE Purchases New Holdings in Universal Technical Institute Inc $UTI

Key Points

• Bank of America acquired 318,968 shares of Universal Technical Institute during the second quarter, worth approximately $13.6 million and representing about 0.58% of the company. Institutional investors and hedge funds collectively own 75.67% of UTI.
• UTI shares opened at $20.36, near their one-year low of $19.52 and well below the 50-day and 200-day moving averages. The company reported quarterly EPS of $0.04, beating estimates, while revenue of $218.91 million fell slightly short of expectations.
• Analyst sentiment remains a “Moderate Buy”, with four Buy ratings and three Holds and a consensus price target of $42.83. However, CEO Jerome Grant recently sold 94,500 shares, reducing his direct position by 21.97%.

Bank of America Corp DE acquired a new position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 318,968 shares of the company's stock, valued at approximately $13,642,000. Bank of America Corp DE owned approximately 0.58% of Universal Technical Institute as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new stake in shares of Universal Technical Institute in the second quarter worth approximately $1,087,000. AWM Investment Company Inc. purchased a new position in Universal Technical Institute in the second quarter valued at about $20,919,000. PDT Partners LLC purchased a new stake in shares of Universal Technical Institute during the 2nd quarter worth about $830,000. Manatuck Hill Partners LLC purchased a new stake in shares of Universal Technical Institute during the 2nd quarter worth about $2,814,000. Finally, Legal & General Group Plc acquired a new stake in shares of Universal Technical Institute during the 2nd quarter valued at about $5,300,000. 75.67% of the stock is owned by institutional investors and hedge funds.

Universal Technical Institute Stock Down 1.5%

NYSE UTI opened at $20.36 on Friday. The stock's 50 day simple moving average is $26.95 and its 200 day simple moving average is $34.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. Universal Technical Institute Inc has a one year low of $19.52 and a one year high of $51.34. The firm has a market cap of $1.12 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its quarterly earnings results 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 net margin of 3.88% and a return on equity of 10.18%. The business had revenue of $218.91 million for the quarter, compared to analysts' expectations of $220.40 million. As a group, sell-side analysts forecast that Universal Technical Institute Inc will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at Universal Technical Institute

In other Universal Technical Institute news, CEO Jerome Grant sold 94,500 shares of the company's 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 transaction, the chief executive officer directly owned 335,715 shares in the company, valued at approximately $13,898,601. This represents a 21.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on UTI. Texas Capital cut Universal Technical Institute from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. 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 report on Thursday, August 6th. B. Riley Financial dropped their price target on shares of Universal Technical Institute from $49.00 to $48.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Northland Securities set a $35.00 target price on shares of Universal Technical Institute in a research report on Thursday, September 10th. Finally, Rosenblatt Securities restated a "buy" rating and set a $45.00 target price on shares of Universal Technical Institute in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Universal Technical Institute has a consensus rating of "Moderate Buy" and a consensus price target of $42.83.

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.

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