Universal Technical Institute Inc $UTI Stake Reduced by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management reduced its stake in Universal Technical Institute Inc by 17.8%, owning 43,299 shares worth approximately $1.47 million after selling 9,365 shares in the second quarter.
• Several hedge funds have increased their holdings in Universal Technical Institute, with Millennium Management LLC growing its stake by 87.0% and Nuveen Asset Management LLC increasing by 103.0% during the fourth quarter.
• Analysts have mixed opinions on Universal Technical Institute, with one firm downgrading it to a "hold" while others maintain a "buy" rating, indicating a consensus price target of $35.83.

Wedge Capital Management L L P NC trimmed its stake in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,299 shares of the company's stock after selling 9,365 shares during the period. Wedge Capital Management L L P NC owned about 0.08% of Universal Technical Institute worth $1,467,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of UTI. Ameriprise Financial Inc. lifted its holdings in shares of Universal Technical Institute by 15.3% during the fourth quarter. Ameriprise Financial Inc. now owns 90,709 shares of the company's stock valued at $2,332,000 after purchasing an additional 12,017 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Universal Technical Institute by 33.4% during the fourth quarter. Bank of America Corp DE now owns 39,138 shares of the company's stock valued at $1,006,000 after purchasing an additional 9,806 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Universal Technical Institute by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,472 shares of the company's stock valued at $578,000 after purchasing an additional 777 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Universal Technical Institute by 87.0% during the fourth quarter. Millennium Management LLC now owns 105,055 shares of the company's stock valued at $2,701,000 after purchasing an additional 48,876 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Universal Technical Institute by 103.0% during the fourth quarter. Nuveen Asset Management LLC now owns 191,760 shares of the company's stock valued at $4,930,000 after purchasing an additional 97,314 shares during the last quarter. 75.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Universal Technical Institute from a "buy" rating to a "hold" rating in a report on Sunday. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research note on Thursday, August 7th. Finally, Barrington Research reissued an "outperform" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute Stock Performance

Shares of NYSE UTI opened at $29.10 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 1.78 and a beta of 1.65. The business's 50-day simple moving average is $28.67 and its 200-day simple moving average is $29.88. Universal Technical Institute Inc has a 52 week low of $15.14 and a 52 week high of $36.32.

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

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