Fifth Third Bancorp Acquires New Position in Universal Technical Institute Inc $UTI

Key Points

• Fifth Third Bancorp disclosed a new first-quarter position in Universal Technical Institute, buying 120,251 shares worth about $4.34 million. Institutional ownership remains high, with hedge funds and other investors holding 75.67% of the stock.
• Several insiders have been selling shares recently, including CAO Christine Kline and insider Kevin Prehn. Over the last quarter, insiders sold 3.12 million shares worth about $129.0 million, and insiders currently own 9.8% of the company.
• Analysts are mixed but generally constructive on UTI, with four Buy ratings and two Hold ratings and a consensus target price of $44.80. The stock opened at $40.30, and the company recently reported Q1 EPS of $0.01 on revenue of $221.4 million.

Fifth Third Bancorp bought a new position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 120,251 shares of the company's stock, valued at approximately $4,341,000. Fifth Third Bancorp owned 0.22% of Universal Technical Institute as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Granite Investment Partners LLC acquired a new position in shares of Universal Technical Institute in the first quarter worth $349,000. Isthmus Partners LLC grew its stake in Universal Technical Institute by 9.5% during the 1st quarter. Isthmus Partners LLC now owns 97,211 shares of the company's stock worth $3,509,000 after purchasing an additional 8,460 shares in the last quarter. Moran Wealth Management LLC grew its stake in Universal Technical Institute by 49.9% during the 1st quarter. Moran Wealth Management LLC now owns 39,754 shares of the company's stock worth $1,435,000 after purchasing an additional 13,233 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Universal Technical Institute during the 1st quarter worth about $944,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Universal Technical Institute during the 1st quarter worth about $471,000. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Universal Technical Institute

In other Universal Technical Institute news, CAO Christine Kline sold 3,500 shares of Universal Technical Institute stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $44.42, for a total transaction of $155,470.00. Following the transaction, the chief accounting officer owned 43,006 shares of the company's stock, valued at $1,910,326.52. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kevin Prehn sold 4,545 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $40.00, for a total value of $181,800.00. Following the completion of the sale, the insider owned 27,025 shares of the company's stock, valued at approximately $1,081,000. This represents a 14.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,117,545 shares of company stock worth $128,998,420. Insiders own 9.80% of the company's stock.

Analysts Set New Price Targets

UTI has been the subject of several recent research reports. Weiss Ratings cut Universal Technical Institute from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, July 8th. Northland Securities set a $41.00 target price on shares of Universal Technical Institute in a report on Thursday, May 7th. Truist Financial lifted their price target on shares of Universal Technical Institute from $40.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Rosenblatt Securities boosted their price target on shares of Universal Technical Institute from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Universal Technical Institute in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.80.

Universal Technical Institute Price Performance

Shares of UTI opened at $40.30 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.17 and a quick ratio of 1.17. Universal Technical Institute Inc has a 1-year low of $21.29 and a 1-year high of $51.34. The stock has a market cap of $2.22 billion, a PE ratio of 52.34, a price-to-earnings-growth ratio of 3.54 and a beta of 1.23. The firm has a fifty day moving average price of $41.69 and a 200 day moving average price of $35.83.

Universal Technical Institute (NYSE:UTI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter. Universal Technical Institute had a return on equity of 13.02% and a net margin of 4.91%.The company had revenue of $221.40 million for the quarter, compared to analyst estimates of $221.61 million. As a group, sell-side analysts anticipate that Universal Technical Institute Inc will post 0.76 EPS for the current year.

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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