Point72 Asset Management L.P. Takes $7.64 Million Position in Universal Technical Institute, Inc. (NYSE:UTI)

Point72 Asset Management L.P. purchased a new position in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 297,101 shares of the company's stock, valued at approximately $7,638,000. Point72 Asset Management L.P. owned 0.55% of Universal Technical Institute 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 lifted its stake in shares of Universal Technical Institute by 24.4% in 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 during the period. Independent Advisor Alliance increased its holdings in Universal Technical Institute by 4.4% in the fourth quarter. Independent Advisor Alliance now owns 12,157 shares of the company's stock valued at $313,000 after buying an additional 507 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Universal Technical Institute by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,472 shares of the company's stock valued at $578,000 after acquiring an additional 777 shares during the period. MetLife Investment Management LLC lifted its position in shares of Universal Technical Institute by 5.7% during the 4th quarter. MetLife Investment Management LLC now owns 23,962 shares of the company's stock valued at $616,000 after acquiring an additional 1,294 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Universal Technical Institute by 9.6% during the 4th quarter. Principal Financial Group Inc. now owns 26,623 shares of the company's stock worth $684,000 after acquiring an additional 2,335 shares in the last quarter. 75.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

UTI has been the subject of several research analyst reports. B. Riley assumed coverage on Universal Technical Institute in a research note on Friday, March 28th. They issued a "buy" rating and a $31.00 price objective for the company. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 target price on shares of Universal Technical Institute in a report on Thursday, May 8th. Northland Securities lifted their price target on Universal Technical Institute from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. 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 report on Thursday. Finally, Lake Street Capital raised their target price on shares of Universal Technical Institute from $35.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Universal Technical Institute currently has a consensus rating of "Buy" and an average price target of $35.83.

Insider Transactions at Universal Technical Institute

In related news, Director George W. Brochick sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $27.59, for a total transaction of $220,720.00. Following the sale, the director now owns 34,917 shares in the company, valued at approximately $963,360.03. This trade represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Todd A. Hitchcock sold 27,500 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $33.36, for a total value of $917,400.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,024 shares of company stock worth $3,686,890 over the last ninety days. 15.10% of the stock is currently owned by corporate insiders.

Universal Technical Institute Price Performance

Shares of NYSE UTI traded down $0.96 during trading on Thursday, reaching $34.36. The company had a trading volume of 1,111,219 shares, compared to its average volume of 595,156. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. Universal Technical Institute, Inc. has a twelve month low of $13.66 and a twelve month high of $36.25. The stock has a 50-day moving average price of $28.59 and a two-hundred day moving average price of $26.60. The stock has a market capitalization of $1.87 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 1.92 and a beta of 1.57.

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 firm 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 7.08% and a return on equity of 21.25%. As a group, sell-side analysts predict that Universal Technical Institute, Inc. will post 1 earnings per share for the current 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.