Universal Technical Institute Inc $UTI Shares Sold by Park West Asset Management LLC

Key Points

• Park West Asset Management LLC reduced its stake in Universal Technical Institute by 44%, selling 599,071 shares, which leaves them with 762,915 shares valued at approximately $19.59 million.
• Analysts' ratings for Universal Technical Institute are predominantly positive, with a consensus rating of "Buy" and an average price target of $35.83.
• The company's latest earnings report revealed that Universal Technical Institute exceeded analysts' expectations with earnings of $0.19 per share, surpassing the consensus estimate of $0.12.

Park West Asset Management LLC cut its stake in Universal Technical Institute Inc (NYSE:UTI - Free Report) by 44.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 762,915 shares of the company's stock after selling 599,071 shares during the quarter. Universal Technical Institute comprises approximately 1.6% of Park West Asset Management LLC's holdings, making the stock its 26th largest holding. Park West Asset Management LLC owned approximately 1.40% of Universal Technical Institute worth $19,592,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Universal Technical Institute by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 3,052,652 shares of the company's stock worth $78,392,000 after acquiring an additional 306,984 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Universal Technical Institute by 58.3% in the first quarter. Lord Abbett & CO. LLC now owns 2,924,499 shares of the company's stock worth $75,101,000 after purchasing an additional 1,077,076 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Universal Technical Institute by 38.1% during the first quarter. American Century Companies Inc. now owns 1,343,822 shares of the company's stock valued at $34,509,000 after buying an additional 370,660 shares during the period. Next Century Growth Investors LLC grew its stake in shares of Universal Technical Institute by 5.8% during the first quarter. Next Century Growth Investors LLC now owns 1,049,742 shares of the company's stock valued at $26,957,000 after buying an additional 57,990 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Universal Technical Institute during the first quarter valued at approximately $20,631,000. Institutional investors own 75.67% of the company's stock.

Universal Technical Institute Stock Down 2.6%

Shares of UTI traded down $0.73 during trading hours on Wednesday, hitting $27.10. The company had a trading volume of 516,604 shares, compared to its average volume of 671,837. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.47 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.75 and a beta of 1.65. Universal Technical Institute Inc has a one year low of $15.14 and a one year high of $36.32. The company's fifty day moving average price is $29.36 and its two-hundred day moving average price is $29.82.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. The company had revenue of $204.30 million for the quarter, compared to analyst estimates of $200.01 million. Universal Technical Institute had a return on equity of 22.12% and a net margin of 7.79%. As a group, equities analysts forecast that Universal Technical Institute Inc will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UTI. Lake Street Capital restated a "buy" rating and set a $38.00 price objective (up previously from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and set a $36.00 target price on shares of Universal Technical Institute in a research note on Thursday, August 7th. Truist Financial raised their price target 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. Barrington Research reaffirmed an "outperform" rating and set a $36.00 target price on shares of Universal Technical Institute in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered Universal Technical Institute from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, Universal Technical Institute currently has an average rating of "Buy" and a consensus target price of $35.83.

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.