Universal Technical Institute, Inc. (NYSE:UTI) Sees Large Increase in Short Interest

Universal Technical Institute, Inc. (NYSE:UTI - Get Free Report) was the target of a large increase in short interest during the month of 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 company's stock are short sold.

Insider Buying and Selling at Universal Technical Institute

In other Universal Technical Institute news, Director George W. Brochick sold 6,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was 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 of the company's stock, valued at approximately $1,035,309.44. The trade was a 15.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sherrell Smith sold 39,446 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $27.85, for a total transaction of $1,098,571.10. Following the sale, the executive vice president now directly owns 177,912 shares in the company, valued at approximately $4,954,849.20. The trade was a 18.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,251 shares of company stock worth $2,485,066. Insiders own 15.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Universal Technical Institute by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 3,052,652 shares of the company's stock worth $78,392,000 after buying an additional 306,984 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Universal Technical Institute by 58.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,924,499 shares of the company's stock valued at $75,101,000 after acquiring an additional 1,077,076 shares during the last quarter. Dumac Inc. purchased a new position in Universal Technical Institute in the fourth quarter worth about $43,236,000. American Century Companies Inc. increased its stake in Universal Technical Institute by 38.1% during the first quarter. American Century Companies Inc. now owns 1,343,822 shares of the company's stock worth $34,509,000 after acquiring an additional 370,660 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Universal Technical Institute by 0.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,188,891 shares of the company's stock valued at $30,566,000 after purchasing an additional 6,743 shares during the period. 75.67% of the stock is owned by hedge funds and other institutional investors.

Universal Technical Institute Price Performance

Shares of UTI stock traded down $0.37 during mid-day trading on Tuesday, hitting $33.27. The company had a trading volume of 248,351 shares, compared to its average volume of 775,001. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14. The stock's 50 day moving average price is $31.53 and its 200-day moving average price is $28.31. Universal Technical Institute has a 52-week low of $13.66 and a 52-week high of $36.32. The company has a market capitalization of $1.81 billion, a P/E ratio of 34.30, a P/E/G ratio of 1.92 and a beta of 1.61.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Lake Street Capital restated a "buy" rating and set a $38.00 price objective (up previously from $35.00) on shares of Universal Technical Institute in a research report on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 target price on shares of Universal Technical Institute in a research report on Thursday, May 8th. Truist Financial raised their target price on Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Barrington Research reissued an "outperform" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research note on Thursday, June 12th. Finally, B. Riley assumed coverage on shares of Universal Technical Institute in a report on Friday, March 28th. They issued a "buy" rating and a $31.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $35.83.

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.

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