Short Interest in Universal Technical Institute Inc (NYSE:UTI) Rises By 33.8%

Universal Technical Institute Inc (NYSE:UTI - Get Free Report) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 2,140,000 shares, an increase of 33.8% from the May 15th total of 1,600,000 shares. Based on an average daily volume of 858,300 shares, the short-interest ratio is presently 2.5 days. Currently, 4.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on UTI shares. Lake Street Capital reaffirmed a "buy" rating and set a $38.00 target price (up previously from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. 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. Truist Financial raised their target price on shares of Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Barrington Research restated an "outperform" rating and issued a $36.00 price target on shares of Universal Technical Institute in a research report on Thursday, June 12th. Finally, B. Riley started coverage on Universal Technical Institute in a report on Friday, March 28th. They issued a "buy" rating and a $31.00 price target for the company. Six investment 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 target price of $35.83.

Universal Technical Institute Trading Up 0.1%

UTI traded up $0.05 on Friday, hitting $33.22. The company had a trading volume of 641,244 shares, compared to its average volume of 601,493. The company's fifty day moving average price is $32.01 and its 200 day moving average price is $28.49. Universal Technical Institute has a 1 year low of $13.66 and a 1 year high of $36.32. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.81 billion, a P/E ratio of 31.94, a PEG ratio of 2.09 and a beta of 1.61.

Universal Technical Institute (NYSE:UTI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. Universal Technical Institute had a net margin of 7.34% and a return on equity of 21.40%. The business had revenue of $207.45 million during the quarter, compared to analysts' expectations of $196.63 million. As a group, equities analysts expect that Universal Technical Institute will post 1 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Todd A. Hitchcock sold 27,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $33.36, for a total transaction of $917,400.00. Following the transaction, the chief operating officer now owns 80,521 shares in the company, valued at $2,686,180.56. This trade represents a 25.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George W. Brochick sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $31.84, for a total value of $191,040.00. Following the completion of the transaction, the director now owns 32,516 shares in the company, valued at approximately $1,035,309.44. This trade represents a 15.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,805 shares of company stock worth $1,116,995. Corporate insiders own 15.10% of the company's stock.

Institutional Trading of Universal Technical Institute

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UTI. Militia Capital Partners LP grew its holdings in Universal Technical Institute by 10.4% during the 1st quarter. Militia Capital Partners LP now owns 18,040 shares of the company's stock worth $463,000 after acquiring an additional 1,700 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Universal Technical Institute by 166.6% during the first quarter. Inspire Investing LLC now owns 41,280 shares of the company's stock worth $1,060,000 after purchasing an additional 25,795 shares in the last quarter. Strs Ohio acquired a new position in shares of Universal Technical Institute during the first quarter worth $306,000. Ellsworth Advisors LLC purchased a new position in Universal Technical Institute in the first quarter valued at $617,000. Finally, Jane Street Group LLC raised its stake in Universal Technical Institute by 144.1% in the first quarter. Jane Street Group LLC now owns 88,410 shares of the company's stock valued at $2,270,000 after buying an additional 52,184 shares in the last quarter. Hedge funds and other institutional investors own 75.67% 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.