Rhumbline Advisers Lowers Position in Universal Technical Institute Inc $UTI

Key Points

• Rhumbline Advisers reduced its stake in Universal Technical Institute Inc by 16.9%, owning 59,305 shares worth $1,523,000 following the sale of 12,102 shares in the first quarter.
• Vanguard Group Inc. and Lord Abbett & CO. LLC increased their holdings in the company by 11.2% and 58.3% respectively, reflecting strong institutional interest in Universal Technical Institute.
• Universal Technical Institute's stock has been performing well, with the company reporting $0.19 earnings per share, exceeding estimates, and analysts maintaining a generally favorable outlook with an average target price of $35.83.

Rhumbline Advisers lowered its stake in Universal Technical Institute Inc (NYSE:UTI - Free Report) by 16.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 59,305 shares of the company's stock after selling 12,102 shares during the quarter. Rhumbline Advisers owned 0.11% of Universal Technical Institute worth $1,523,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Universal Technical Institute by 105.0% in the first quarter. CWM LLC now owns 2,167 shares of the company's stock valued at $56,000 after purchasing an additional 1,110 shares during the period. NewEdge Advisors LLC acquired a new stake in Universal Technical Institute in the 1st quarter worth about $57,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Universal Technical Institute during the 1st quarter worth approximately $61,000. Caitong International Asset Management Co. Ltd purchased a new stake in Universal Technical Institute during the 1st quarter worth approximately $68,000. Finally, USA Financial Formulas acquired a new position in shares of Universal Technical Institute during the first quarter valued at approximately $84,000. Hedge funds and other institutional investors own 75.67% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on UTI. Barrington Research restated an "outperform" rating and issued a $36.00 target price on shares of Universal Technical Institute in a research report on Tuesday, July 29th. Rosenblatt Securities restated a "buy" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Universal Technical Institute from a "buy" rating to a "hold" rating in a research note on Sunday. One research 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, the stock currently has a consensus rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute Trading Up 2.8%

Shares of UTI traded up $0.81 during midday trading on Monday, reaching $29.10. The company had a trading volume of 524,840 shares, compared to its average volume of 613,914. Universal Technical Institute Inc has a 1-year low of $15.14 and a 1-year high of $36.32. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $28.67 and a 200-day simple moving average of $29.88. The stock has a market cap of $1.58 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 1.78 and a beta of 1.65.

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

Universal Technical Institute 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.