Hennessy Advisors Inc. Sells 70,900 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Hennessy Advisors Inc. reduced its position in Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 10.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 620,000 shares of the company's stock after selling 70,900 shares during the period. Hennessy Advisors Inc. owned 1.14% of Universal Technical Institute worth $15,922,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd increased its stake 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 buying an additional 388 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Universal Technical Institute during the fourth quarter worth $79,000. USA Financial Formulas acquired a new stake in shares of Universal Technical Institute during the first quarter worth $84,000. Lazard Asset Management LLC acquired a new stake in shares of Universal Technical Institute during the fourth quarter worth $101,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Universal Technical Institute during the fourth quarter worth $118,000. 75.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Universal Technical Institute

In other Universal Technical Institute news, EVP Sherrell Smith sold 36,773 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $26.68, for a total transaction of $981,103.64. Following the sale, the executive vice president now owns 227,358 shares of the company's stock, valued at approximately $6,065,911.44. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Todd A. Hitchcock sold 27,500 shares of the 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. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,024 shares of company stock valued at $3,466,170 in the last ninety days. 15.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

UTI has been the subject of a number of analyst reports. B. Riley initiated coverage on Universal Technical Institute in a research note on Friday, March 28th. They set a "buy" rating and a $31.00 price objective for the company. Lake Street Capital reaffirmed a "buy" rating and set a $38.00 price objective (up from $35.00) on shares of Universal Technical Institute in a research note on Wednesday, May 21st. Truist Financial boosted their target price on Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Barrington Research reissued an "outperform" rating and issued a $36.00 target price on shares of Universal Technical Institute in a research note on Thursday. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $36.00 target price on shares of Universal Technical Institute in a research note on Thursday, May 8th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $35.83.

Universal Technical Institute Stock Performance

NYSE:UTI traded up $0.64 on Friday, hitting $33.65. The company's stock had a trading volume of 640,806 shares, compared to its average volume of 598,266. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average of $31.37 and a two-hundred day moving average of $28.23. The firm has a market capitalization of $1.83 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.61. Universal Technical Institute, Inc. has a one year low of $13.66 and a one year high of $36.32.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its quarterly earnings data 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. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. The firm had revenue of $207.45 million during the quarter, compared to the consensus estimate of $196.63 million. Research 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.