Harbor Capital Advisors Inc. Sells 19,587 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Harbor Capital Advisors Inc. lowered its stake in Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 357,342 shares of the company's stock after selling 19,587 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.66% of Universal Technical Institute worth $9,177,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Covestor Ltd lifted its stake in Universal Technical Institute by 24.4% in the 4th quarter. Covestor Ltd now owns 1,977 shares of the company's stock valued at $51,000 after purchasing an additional 388 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Universal Technical Institute in the 4th quarter valued at $79,000. Lazard Asset Management LLC bought a new position in shares of Universal Technical Institute in the 4th quarter valued at $101,000. Aquatic Capital Management LLC bought a new stake in Universal Technical Institute during the 4th quarter worth $118,000. Finally, Meeder Asset Management Inc. increased its holdings in Universal Technical Institute by 418.6% in the 4th quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company's stock worth $202,000 after purchasing an additional 6,337 shares in the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Rosenblatt Securities restated a "buy" rating and set a $36.00 price target on shares of Universal Technical Institute in a report on Thursday, May 8th. B. Riley assumed coverage on shares of Universal Technical Institute in a research report on Friday, March 28th. They issued a "buy" rating and a $31.00 price target for the company. Lake Street Capital reiterated a "buy" rating and set a $38.00 price target (up previously from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. Truist Financial boosted their price objective on shares of Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Barrington Research reiterated an "outperform" rating and issued a $36.00 price target on shares of Universal Technical Institute in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute Trading Up 1.9%

UTI traded up $0.64 during trading on Friday, hitting $33.65. The company's stock had a trading volume of 640,806 shares, compared to its average volume of 598,264. The firm has a market capitalization of $1.83 billion, a P/E ratio of 34.69, a PEG ratio of 1.92 and a beta of 1.61. Universal Technical Institute, Inc. has a twelve month low of $13.66 and a twelve month high of $36.32. The stock's fifty day moving average price is $31.37 and its 200-day moving average price is $28.23. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. The company had revenue of $207.45 million for the quarter, compared to the consensus estimate of $196.63 million. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. Analysts anticipate that Universal Technical Institute, Inc. will post 1 EPS for the current year.

Insider Buying and Selling

In related news, EVP Sherrell Smith sold 39,446 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $27.85, for a total value of $1,098,571.10. Following the transaction, the executive vice president now owns 177,912 shares of the company's stock, valued at approximately $4,954,849.20. This trade represents a 18.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Todd A. Hitchcock sold 27,500 shares of Universal Technical Institute stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $33.36, for a total value of $917,400.00. Following the transaction, the chief operating officer now owns 80,521 shares of the company's stock, valued at $2,686,180.56. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,024 shares of company stock valued at $3,466,170. 15.10% of the stock is owned by company insiders.

About Universal Technical Institute

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.