Universal Technical Institute, Inc. (NYSE:UTI) Stake Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in Universal Technical Institute, Inc. (NYSE:UTI) by 30.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,038 shares of the company’s stock after buying an additional 3,482 shares during the period. The Manufacturers Life Insurance Company’s holdings in Universal Technical Institute were worth $237,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new stake in Universal Technical Institute during the second quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Universal Technical Institute by 95,120.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,522 shares of the company’s stock valued at $150,000 after purchasing an additional 9,512 shares during the last quarter. EntryPoint Capital LLC increased its stake in Universal Technical Institute by 54.2% during the first quarter. EntryPoint Capital LLC now owns 10,365 shares of the company’s stock valued at $165,000 after purchasing an additional 3,643 shares during the last quarter. ProShare Advisors LLC bought a new stake in Universal Technical Institute during the second quarter valued at $167,000. Finally, Lazard Asset Management LLC bought a new stake in Universal Technical Institute during the first quarter valued at $181,000. Institutional investors own 75.67% of the company’s stock.

Insider Buying and Selling at Universal Technical Institute

In other Universal Technical Institute news, CEO Jerome Alan Grant sold 68,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $17.53, for a total value 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 approximately $2,391,845.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.60% of the stock is owned by corporate insiders.

Universal Technical Institute Stock Performance

UTI stock opened at $16.24 on Friday. The company has a market capitalization of $873.87 million, a P/E ratio of 32.48, a PEG ratio of 1.19 and a beta of 1.35. The company has a 50-day simple moving average of $16.51 and a 200 day simple moving average of $16.04. Universal Technical Institute, Inc. has a fifty-two week low of $7.78 and a fifty-two week high of $19.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.56.

Universal Technical Institute (NYSE:UTI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The business 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 quarter in the prior year, the company posted ($0.05) earnings per share. Sell-side analysts predict that Universal Technical Institute, Inc. will post 0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UTI has been the subject of several recent research reports. StockNews.com upgraded shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Northland Securities upped their price target on shares of Universal Technical Institute from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Barrington Research restated an “outperform” rating and set a $22.00 price target on shares of Universal Technical Institute in a research report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $22.00 price target on shares of Universal Technical Institute in a research report on Wednesday, September 11th. Finally, Truist Financial initiated coverage on shares of Universal Technical Institute in a research report on Thursday, July 25th. They set a “buy” rating and a $22.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Universal Technical Institute presently has an average rating of “Buy” and an average target price of $21.60.

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.