Universal Technical Institute, Inc. (NYSE:UTI) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC cut its holdings in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,859 shares of the company's stock after selling 11,700 shares during the quarter. Granahan Investment Management LLC owned 0.29% of Universal Technical Institute worth $4,084,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in Universal Technical Institute by 24.4% in the fourth quarter. Covestor Ltd now owns 1,977 shares of the company's stock valued at $51,000 after acquiring an additional 388 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Universal Technical Institute in the fourth quarter worth $79,000. Aquatic Capital Management LLC bought a new stake in Universal Technical Institute in the fourth quarter worth $118,000. Meeder Asset Management Inc. lifted its position in Universal Technical Institute by 418.6% in the fourth quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company's stock worth $202,000 after buying an additional 6,337 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Universal Technical Institute in the fourth quarter worth $203,000. 75.67% of the stock is owned by hedge funds and other institutional investors.

Universal Technical Institute Price Performance

Shares of UTI traded up $1.50 during mid-day trading on Wednesday, hitting $33.17. The company's stock had a trading volume of 1,382,089 shares, compared to its average volume of 580,210. 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 firm has a 50-day simple moving average of $27.62 and a 200 day simple moving average of $25.93. The firm has a market capitalization of $1.80 billion, a P/E ratio of 34.20, a P/E/G ratio of 1.92 and a beta of 1.57. Universal Technical Institute, Inc. has a 1-year low of $13.66 and a 1-year high of $35.49.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. The firm had revenue of $207.45 million during the quarter, compared to the consensus estimate of $196.63 million. Analysts predict that Universal Technical Institute, Inc. will post 1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on UTI shares. B. Riley assumed coverage on Universal Technical Institute in a research report on Friday, March 28th. They set a "buy" rating and a $31.00 price objective on the stock. Northland Securities boosted their price objective on Universal Technical Institute from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Lake Street Capital boosted their price objective on Universal Technical Institute from $31.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a report on Thursday, May 8th. Finally, Barrington Research increased their price objective on Universal Technical Institute from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $33.00.

Insiders Place Their Bets

In other Universal Technical Institute news, EVP Sherrell Smith sold 10,000 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $26.95, for a total transaction of $269,500.00. Following the completion of the transaction, the executive vice president now owns 157,663 shares of the company's stock, valued at approximately $4,249,017.85. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George W. Brochick sold 8,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $27.59, for a total value of $220,720.00. Following the transaction, the director now directly owns 34,917 shares of the company's stock, valued at $963,360.03. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,524 shares of company stock valued at $2,578,450. Corporate insiders own 15.10% of the company's stock.

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.