Bank of New York Mellon Corp Buys 27,182 Shares of Universal Technical Institute Inc (NYSE:UTI)

Bank of New York Mellon Corp raised its holdings in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) by 26.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,196 shares of the company's stock after purchasing an additional 27,182 shares during the period. Bank of New York Mellon Corp owned 0.24% of Universal Technical Institute worth $3,292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd increased its stake in shares of Universal Technical Institute by 24.4% during the fourth quarter. Covestor Ltd now owns 1,977 shares of the company's stock valued at $51,000 after purchasing an additional 388 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Universal Technical Institute during the first quarter valued at approximately $84,000. Lazard Asset Management LLC bought a new stake in shares of Universal Technical Institute during the fourth quarter valued at approximately $101,000. Aquatic Capital Management LLC bought a new stake in shares of Universal Technical Institute during the fourth quarter valued at approximately $118,000. Finally, Meeder Asset Management Inc. increased its position in shares of Universal Technical Institute by 418.6% during the fourth quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company's stock valued at $202,000 after acquiring an additional 6,337 shares in the last quarter. Institutional investors own 75.67% of the company's stock.

Insider Buying and Selling at Universal Technical Institute

In related news, Director George W. Brochick sold 6,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $31.84, for a total transaction of $191,040.00. Following the completion of the transaction, the director owned 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Todd A. Hitchcock sold 27,500 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $33.36, for a total transaction of $917,400.00. Following the transaction, the chief operating officer directly owned 80,521 shares of the company's stock, valued at approximately $2,686,180.56. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and set a $36.00 price target on shares of Universal Technical Institute in a research report on Thursday, May 8th. Barrington Research reissued an "outperform" rating and set a $36.00 price target on shares of Universal Technical Institute in a research report on Thursday, June 12th. Lake Street Capital reissued a "buy" rating and set a $38.00 price target (up previously from $35.00) on shares of Universal Technical Institute in a research report on Wednesday, May 21st. Finally, Truist Financial raised their price target on shares of Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Universal Technical Institute has an average rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute Price Performance

NYSE UTI opened at $31.44 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.07 and a current ratio of 1.07. The firm's 50 day moving average price is $33.39 and its 200-day moving average price is $29.65. Universal Technical Institute Inc has a 52-week low of $15.14 and a 52-week high of $36.32. The company has a market cap of $1.71 billion, a PE ratio of 30.23, a P/E/G ratio of 1.99 and a beta of 1.58.

Universal Technical Institute (NYSE:UTI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. The company had revenue of $207.45 million during the quarter, compared to the consensus estimate of $196.63 million. Universal Technical Institute had a net margin of 7.34% and a return on equity of 21.40%. Sell-side analysts forecast that Universal Technical Institute Inc will post 1 EPS 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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