Short Interest in Universal Technical Institute, Inc. (NYSE:UTI) Drops By 30.7%

Universal Technical Institute, Inc. (NYSE:UTI - Get Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 1,600,000 shares, a decline of 30.7% from the April 30th total of 2,310,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 883,700 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

UTI has been the topic of several analyst reports. Barrington Research boosted their price objective on shares of Universal Technical Institute from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Lake Street Capital reissued a "buy" rating and issued a $38.00 price objective (up previously from $35.00) on shares of Universal Technical Institute in a research note on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research note on Thursday, May 8th. Truist Financial boosted their price objective 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. Finally, Northland Securities boosted their price objective on shares of Universal Technical Institute from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $35.83.

Insiders Place Their Bets

In other Universal Technical Institute news, COO Todd A. Hitchcock sold 27,500 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $33.36, for a total transaction of $917,400.00. Following the sale, the chief operating officer now owns 80,521 shares of the company's stock, valued at approximately $2,686,180.56. The trade was a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sherrell Smith sold 39,446 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was 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. Over the last quarter, insiders have sold 120,024 shares of company stock valued at $3,466,170. 15.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Technical Institute

Several institutional investors have recently made changes to their positions in UTI. Dumac Inc. acquired a new position in shares of Universal Technical Institute during the fourth quarter valued at about $43,236,000. Lord Abbett & CO. LLC raised its holdings in shares of Universal Technical Institute by 194.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,847,423 shares of the company's stock valued at $47,497,000 after purchasing an additional 1,219,052 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Universal Technical Institute during the first quarter valued at about $20,631,000. Victory Capital Management Inc. raised its holdings in shares of Universal Technical Institute by 1,377.1% during the fourth quarter. Victory Capital Management Inc. now owns 518,256 shares of the company's stock valued at $13,324,000 after purchasing an additional 483,170 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of 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 valued at $34,509,000 after purchasing an additional 370,660 shares during the period. Institutional investors and hedge funds own 75.67% of the company's stock.

Universal Technical Institute Trading Down 1.3%

UTI traded down $0.46 during trading on Tuesday, reaching $35.44. 720,564 shares of the stock traded hands, compared to its average volume of 592,556. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.93 billion, a PE ratio of 36.54, a P/E/G ratio of 1.92 and a beta of 1.57. The stock's 50-day moving average is $29.91 and its 200 day moving average is $27.60. Universal Technical Institute has a 12 month low of $13.66 and a 12 month high of $36.77.

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

Universal Technical Institute Company Profile

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.