Wellington Management Group LLP Sells 269,034 Shares of Universal Technical Institute Inc $UTI

Key Points

• Wellington Management Group reduced its Universal Technical Institute stake by 31.6%, selling 269,034 shares and retaining 582,108 shares valued at approximately $24.9 million. Institutional investors collectively own 75.67% of the company.
• Insider selling was significant: Coliseum Capital Management sold 3 million shares for $124.2 million, while Kevin Prehn sold 4,545 shares. Insiders sold roughly 3.1 million shares worth $128.3 million over the past three months.
• UTI reported quarterly EPS of $0.04, beating estimates by $0.02, on revenue of $218.91 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $43.83, versus a reported share price of $22.19.

Wellington Management Group LLP cut its stake in Universal Technical Institute Inc (NYSE:UTI - Free Report) by 31.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 582,108 shares of the company's stock after selling 269,034 shares during the period. Wellington Management Group LLP owned approximately 1.06% of Universal Technical Institute worth $24,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. bought a new stake in shares of Universal Technical Institute in the second quarter valued at about $27,000. PNC Financial Services Group Inc. lifted its position in shares of Universal Technical Institute by 543.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 888 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the period. Clearstead Advisors LLC grew its holdings in shares of Universal Technical Institute by 187.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,446 shares of the company's stock worth $38,000 after purchasing an additional 943 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Universal Technical Institute in the 1st quarter valued at $57,000. Finally, State of Wyoming bought a new stake in Universal Technical Institute in the second quarter valued at about $109,000. Institutional investors own 75.67% of the company's stock.

Insider Transactions at Universal Technical Institute

In other Universal Technical Institute news, Director Coliseum Capital Management, L sold 3,000,000 shares of Universal Technical Institute stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $41.40, for a total transaction of $124,200,000.00. Following the transaction, the director directly owned 971,440 shares in the company, valued at approximately $40,217,616. The trade was a 75.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kevin Prehn sold 4,545 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $40.00, for a total value of $181,800.00. Following the completion of the sale, the insider owned 27,025 shares of the company's stock, valued at $1,081,000. This trade represents a 14.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,099,045 shares of company stock valued at $128,294,100 over the last three months. 9.80% of the stock is currently owned by corporate insiders.

Universal Technical Institute Stock Performance

Shares of UTI stock opened at $22.19 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $1.22 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.44 and a beta of 1.17. The stock has a 50-day moving average of $34.52 and a 200-day moving average of $36.36. Universal Technical Institute Inc has a one year low of $20.33 and a one year high of $51.34.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. Universal Technical Institute had a net margin of 3.88% and a return on equity of 10.18%. The business had revenue of $218.91 million for the quarter, compared to analyst estimates of $220.40 million. As a group, sell-side analysts expect that Universal Technical Institute Inc will post 0.61 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. B. Riley Financial reduced their price target on shares of Universal Technical Institute from $49.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Rosenblatt Securities reiterated a "buy" rating and set a $45.00 price target on shares of Universal Technical Institute in a research report on Thursday, August 6th. Weiss Ratings raised shares of Universal Technical Institute from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Finally, Truist Financial lowered their price objective on shares of Universal Technical Institute from $47.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.83.

About Universal Technical Institute

Universal Technical Institute, Inc NYSE: UTI is a leading provider of post-secondary education for students pursuing careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, as well as in welding and CNC machining. The company designs and delivers hands-on training through a blend of classroom instruction and experiential lab work, preparing graduates for entry-level positions in the transportation, manufacturing and energy sectors. UTI's curriculum emphasizes industry-recognized credentials and proprietary coursework developed in collaboration with original equipment manufacturers (OEMs) to ensure alignment with evolving employer needs.

Through a network of campus locations across the United States and select centers in Canada, Universal Technical Institute offers diploma and certificate programs ranging from 36 to 74 weeks in length.

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