ProShare Advisors LLC Buys Shares of 10,596 Universal Technical Institute, Inc. (NYSE:UTI)

ProShare Advisors LLC purchased a new position in shares of Universal Technical Institute, Inc. (NYSE:UTI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,596 shares of the company’s stock, valued at approximately $167,000.

Several other hedge funds also recently modified their holdings of UTI. Vanguard Group Inc. increased its position in Universal Technical Institute by 55.0% during the first quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock worth $37,872,000 after acquiring an additional 842,765 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Universal Technical Institute during the second quarter valued at about $9,032,000. Pembroke Management LTD lifted its stake in shares of Universal Technical Institute by 646.3% in the second quarter. Pembroke Management LTD now owns 369,308 shares of the company’s stock valued at $5,809,000 after buying an additional 319,820 shares during the period. Acadian Asset Management LLC grew its position in Universal Technical Institute by 2,058.7% during the first quarter. Acadian Asset Management LLC now owns 298,849 shares of the company’s stock worth $4,763,000 after buying an additional 285,005 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Universal Technical Institute by 341.1% during the first quarter. Russell Investments Group Ltd. now owns 334,332 shares of the company’s stock valued at $5,329,000 after acquiring an additional 258,532 shares during the period. 75.67% of the stock is owned by institutional investors.

Universal Technical Institute Price Performance

Shares of Universal Technical Institute stock opened at $15.41 on Friday. The stock has a market capitalization of $829.21 million, a price-to-earnings ratio of 42.81, a P/E/G ratio of 1.14 and a beta of 1.35. The firm’s 50-day moving average price is $16.91 and its two-hundred day moving average price is $15.99. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Universal Technical Institute, Inc. has a 1-year low of $7.78 and a 1-year high of $19.79.

Universal Technical Institute (NYSE:UTI) last announced its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $177.46 million during the quarter, compared to the consensus estimate of $172.33 million. Universal Technical Institute had a net margin of 3.82% and a return on equity of 12.66%. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts predict that Universal Technical Institute, Inc. will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jerome Alan Grant sold 68,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the completion of the sale, the chief executive officer now directly owns 136,443 shares of the company’s stock, valued at $2,391,845.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 27.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Universal Technical Institute in a research report on Wednesday, September 11th. Barrington Research reiterated an “outperform” rating and set a $22.00 price target on shares of Universal Technical Institute in a research note on Wednesday, August 7th. Truist Financial assumed coverage on shares of Universal Technical Institute in a research note on Thursday, July 25th. They issued a “buy” rating and a $22.00 price objective for the company. StockNews.com upgraded shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, 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 research note on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Universal Technical Institute currently has a consensus rating of “Buy” and an average price target of $21.60.

Universal Technical Institute 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.