Victory Capital Management Inc. Trims Position in Universal Technical Institute, Inc. (NYSE:UTI)

Victory Capital Management Inc. trimmed its holdings in Universal Technical Institute, Inc. (NYSE:UTI) by 81.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 34,998 shares of the company’s stock after selling 156,530 shares during the period. Victory Capital Management Inc. owned 0.07% of Universal Technical Institute worth $551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pullen Investment Management LLC raised its holdings in shares of Universal Technical Institute by 2.9% in the second quarter. Pullen Investment Management LLC now owns 56,420 shares of the company’s stock valued at $887,000 after buying an additional 1,600 shares during the last quarter. RiverPark Advisors LLC purchased a new stake in shares of Universal Technical Institute in the second quarter valued at about $43,000. Kennedy Capital Management LLC raised its holdings in shares of Universal Technical Institute by 3.7% in the first quarter. Kennedy Capital Management LLC now owns 78,640 shares of the company’s stock valued at $1,254,000 after buying an additional 2,798 shares during the last quarter. American International Group Inc. raised its holdings in shares of Universal Technical Institute by 19.6% in the first quarter. American International Group Inc. now owns 19,494 shares of the company’s stock valued at $311,000 after buying an additional 3,194 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Universal Technical Institute by 11.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,375 shares of the company’s stock valued at $532,000 after buying an additional 3,446 shares during the last quarter. 75.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UTI has been the subject of a number of research reports. Northland Securities upped their target price on shares of Universal Technical Institute from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Truist Financial started coverage on shares of Universal Technical Institute in a report on Thursday, July 25th. They set a “buy” rating and a $22.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $22.00 price target on shares of Universal Technical Institute in a report on Wednesday, September 11th. StockNews.com raised shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, B. Riley reissued a “buy” rating and set a $22.00 price target (up from $20.00) on shares of Universal Technical Institute in a report on Thursday, May 30th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $21.60.

Universal Technical Institute Stock Performance

UTI opened at $16.46 on Monday. Universal Technical Institute, Inc. has a 1-year low of $7.78 and a 1-year high of $19.79. The stock has a market cap of $885.56 million, a P/E ratio of 45.72, a P/E/G ratio of 1.58 and a beta of 1.35. The stock’s 50 day simple moving average is $17.41 and its 200 day simple moving average is $15.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.02 and a quick ratio of 1.02.

Universal Technical Institute (NYSE:UTI) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $177.46 million for the quarter, compared to analyst estimates of $172.33 million. Universal Technical Institute had a return on equity of 12.66% and a net margin of 3.82%. During the same quarter in the prior year, the company earned ($0.05) earnings per share. As a group, equities analysts anticipate that Universal Technical Institute, Inc. will post 0.71 EPS for the current fiscal year.

Insider Transactions at Universal Technical Institute

In other news, CEO Jerome Alan Grant sold 68,000 shares of Universal Technical Institute stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the completion of the transaction, the chief executive officer now owns 136,443 shares of the company’s stock, valued at approximately $2,391,845.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 27.60% 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.