BlackRock Inc. Buys New Shares in Universal Technical Institute Inc $UTI

Key Points

• BlackRock acquired 7.55 million shares of Universal Technical Institute during the second quarter, worth approximately $323.1 million and representing a 13.72% stake. Institutional investors collectively own 75.67% of the company.
• Insiders sold more than 3.1 million shares worth approximately $128.4 million over the past 90 days, including a 3 million-share sale by Coliseum Capital Management’s director representative.
• UTI recently exceeded quarterly EPS expectations, reporting $0.04 versus the $0.02 consensus, while analysts maintain a “Moderate Buy” consensus with an average price target of $43.83.

BlackRock Inc. bought a new position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,553,895 shares of the company's stock, valued at approximately $323,080,000. BlackRock Inc. owned about 13.72% of Universal Technical Institute at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Universal Technical Institute by 47.6% during the 1st quarter. Royal Bank of Canada now owns 44,564 shares of the company's stock worth $1,144,000 after purchasing an additional 14,364 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Universal Technical Institute in the 1st quarter valued at about $1,226,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Universal Technical Institute by 23.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,688 shares of the company's stock worth $711,000 after purchasing an additional 5,216 shares during the period. NewEdge Advisors LLC bought a new position in Universal Technical Institute during the first quarter worth about $57,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Universal Technical Institute by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,223 shares of the company's stock valued at $2,163,000 after buying an additional 9,951 shares during the period. 75.67% of the stock is owned by institutional investors.

Insider Transactions at Universal Technical Institute

In other news, CAO Christine Kline sold 3,500 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $44.42, for a total value of $155,470.00. Following the completion of the transaction, the chief accounting officer owned 43,006 shares of the company's stock, valued at $1,910,326.52. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Coliseum Capital Management, L sold 3,000,000 shares of Universal Technical Institute stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $41.40, for a total transaction of $124,200,000.00. Following the sale, the director owned 971,440 shares in the company, valued at approximately $40,217,616. This represents a 75.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,102,545 shares of company stock valued at $128,449,570. Company insiders own 9.80% of the company's stock.

Universal Technical Institute Stock Down 1.7%

NYSE UTI opened at $22.12 on Thursday. 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 fifty-two week low of $21.29 and a fifty-two week high of $51.34. The stock has a market capitalization of $1.22 billion, a PE ratio of 35.68, a PEG ratio of 2.47 and a beta of 1.25. The business has a fifty day moving average price of $37.15 and a two-hundred day moving average price of $36.72.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UTI. Barrington Research raised their price target on Universal Technical Institute from $36.00 to $42.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. 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. Griffin Securities set a $49.00 price target on shares of Universal Technical Institute in a report on Thursday, April 30th. Rosenblatt Securities restated a "buy" rating and set a $45.00 price objective on shares of Universal Technical Institute in a research report on Thursday, August 6th. Finally, Northland Securities set a $41.00 target price on Universal Technical Institute in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $43.83.

Universal Technical Institute Profile

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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