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

Hennessy Advisors Inc. decreased its stake in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 620,000 shares of the company's stock after selling 70,900 shares during the period. Hennessy Advisors Inc. owned approximately 1.14% of Universal Technical Institute worth $15,922,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Covestor Ltd boosted its position in shares of Universal Technical Institute by 24.4% during the 4th quarter. Covestor Ltd now owns 1,977 shares of the company's stock valued at $51,000 after purchasing an additional 388 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Universal Technical Institute during the 4th quarter valued at about $79,000. USA Financial Formulas bought a new position in shares of Universal Technical Institute during the 1st quarter valued at about $84,000. Lazard Asset Management LLC acquired a new position in shares of Universal Technical Institute in the fourth quarter worth about $101,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Universal Technical Institute in the fourth quarter worth about $118,000. Institutional investors and hedge funds own 75.67% of the company's stock.

Wall Street Analysts Forecast Growth

UTI has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 target price on shares of Universal Technical Institute in a research report on Thursday, May 8th. Truist Financial lifted their target price on Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Lake Street Capital reiterated a "buy" rating and issued a $38.00 target price (up from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. B. Riley initiated coverage on Universal Technical Institute in a report on Friday, March 28th. They issued a "buy" rating and a $31.00 target price for the company. Finally, Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Universal Technical Institute in a report on Thursday, June 12th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $35.83.

Insider Activity

In other Universal Technical Institute news, EVP Sherrell Smith sold 39,446 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $27.85, for a total value of $1,098,571.10. Following the completion of the transaction, the executive vice president now owns 177,912 shares in the company, valued at $4,954,849.20. The trade was a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George W. Brochick sold 6,000 shares of the company'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 owns 32,516 shares of the company's stock, valued at $1,035,309.44. This represents a 15.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,251 shares of company stock worth $2,485,066. Insiders own 15.10% of the company's stock.

Universal Technical Institute Trading Down 1.1%

NYSE UTI traded down $0.37 on Tuesday, hitting $33.27. The company's stock had a trading volume of 534,913 shares, compared to its average volume of 777,757. The company's 50-day simple moving average is $31.53 and its 200 day simple moving average is $28.31. The firm has a market cap of $1.81 billion, a P/E ratio of 34.30, a PEG ratio of 1.92 and a beta of 1.61. Universal Technical Institute, Inc. has a 52-week low of $13.66 and a 52-week high of $36.32. 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 (NYSE:UTI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. The business had revenue of $207.45 million for the quarter, compared to the consensus estimate of $196.63 million. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. Research analysts predict that Universal Technical Institute, Inc. will post 1 EPS for the current fiscal year.

About Universal Technical Institute

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.