Universal Electronics Inc. (NASDAQ:UEIC) Short Interest Update

Universal Electronics Inc. (NASDAQ:UEIC - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 183,800 shares, a growth of 82.5% from the April 30th total of 100,700 shares. Based on an average daily volume of 88,300 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.7% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, Director Eric Singer bought 24,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $6.73 per share, with a total value of $161,520.00. Following the purchase, the director now owns 30,403 shares in the company, valued at approximately $204,612.19. This represents a 374.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 54,780 shares of company stock valued at $369,643 over the last 90 days. 10.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Electronics

A number of institutional investors have recently modified their holdings of UEIC. Acadian Asset Management LLC increased its stake in shares of Universal Electronics by 2.9% in the first quarter. Acadian Asset Management LLC now owns 520,200 shares of the technology company's stock worth $3,179,000 after acquiring an additional 14,765 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Universal Electronics by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 453,403 shares of the technology company's stock worth $4,987,000 after acquiring an additional 50,003 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Universal Electronics by 4.6% during the 1st quarter. American Century Companies Inc. now owns 233,916 shares of the technology company's stock worth $1,432,000 after acquiring an additional 10,289 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Universal Electronics by 2.2% in the 4th quarter. First Eagle Investment Management LLC now owns 163,936 shares of the technology company's stock valued at $1,803,000 after buying an additional 3,500 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in Universal Electronics during the fourth quarter valued at about $1,703,000. Institutional investors and hedge funds own 79.35% of the company's stock.

Analyst Upgrades and Downgrades

UEIC has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Universal Electronics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 price target on shares of Universal Electronics in a research report on Friday, February 21st.

Universal Electronics Stock Performance

Shares of NASDAQ UEIC traded up $0.21 during mid-day trading on Wednesday, reaching $6.99. The company had a trading volume of 61,578 shares, compared to its average volume of 74,149. The company has a market capitalization of $92.06 million, a price-to-earnings ratio of -3.78, a PEG ratio of 3.62 and a beta of 1.44. The stock has a fifty day moving average of $5.80 and a two-hundred day moving average of $8.38. Universal Electronics has a 12-month low of $4.32 and a 12-month high of $12.64.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People's Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.