Universal Technical Institute, Inc. (NYSE:UTI) Stock Position Increased by Millennium Management LLC

Millennium Management LLC grew its position in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 87.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,055 shares of the company's stock after purchasing an additional 48,876 shares during the period. Millennium Management LLC owned approximately 0.19% of Universal Technical Institute worth $2,701,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of 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 acquiring an additional 388 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Universal Technical Institute in the fourth quarter valued at approximately $79,000. Lazard Asset Management LLC bought a new position in Universal Technical Institute in the fourth quarter worth approximately $101,000. Aquatic Capital Management LLC bought a new position in Universal Technical Institute in the fourth quarter worth approximately $118,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Universal Technical Institute by 418.6% during the 4th quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company's stock valued at $202,000 after purchasing an additional 6,337 shares during the last quarter. Institutional investors own 75.67% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on UTI shares. B. Riley assumed coverage on Universal Technical Institute in a research report on Friday, March 28th. They issued a "buy" rating and a $31.00 target price on the stock. Truist Financial increased their price target on Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Lake Street Capital reissued a "buy" rating and set a $38.00 target price (up from $35.00) on shares of Universal Technical Institute in a research note on Wednesday, May 21st. Northland Securities raised their price target on shares of Universal Technical Institute from $30.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Barrington Research raised their price target on shares of Universal Technical Institute from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute Stock Performance

UTI traded up $0.33 on Monday, reaching $35.86. The company had a trading volume of 770,362 shares, compared to its average volume of 593,759. The stock has a 50-day moving average price of $29.72 and a 200-day moving average price of $27.49. Universal Technical Institute, Inc. has a 1 year low of $13.66 and a 1 year high of $36.62. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.95 billion, a PE ratio of 36.97, a P/E/G ratio of 1.92 and a beta of 1.57.

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

Insider Activity at Universal Technical Institute

In other news, COO Todd A. Hitchcock sold 27,500 shares of the firm'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 transaction, the chief operating officer now owns 80,521 shares of the company's stock, valued at approximately $2,686,180.56. This trade represents a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George W. Brochick sold 6,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $31.84, for a total transaction of $191,040.00. Following the completion of the transaction, the director now directly owns 32,516 shares in the company, valued at approximately $1,035,309.44. This represents a 15.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,024 shares of company stock valued at $3,466,170. Company insiders own 15.10% of the company's stock.

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.