Empowered Funds LLC Boosts Holdings in Universal Electronics Inc. (NASDAQ:UEIC)

Empowered Funds LLC increased its position in Universal Electronics Inc. (NASDAQ:UEIC) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,980 shares of the technology company’s stock after purchasing an additional 2,144 shares during the period. Empowered Funds LLC owned approximately 0.33% of Universal Electronics worth $397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Universal Electronics by 1.5% during the first quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock valued at $5,557,000 after purchasing an additional 7,994 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Universal Electronics by 7.2% in the first quarter. Ancora Advisors LLC now owns 269,834 shares of the technology company’s stock worth $2,701,000 after acquiring an additional 18,050 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Universal Electronics by 18.0% during the second quarter. Assenagon Asset Management S.A. now owns 140,077 shares of the technology company’s stock valued at $1,628,000 after purchasing an additional 21,337 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Universal Electronics during the second quarter valued at approximately $122,000. Finally, Acadian Asset Management LLC boosted its holdings in Universal Electronics by 9.1% in the second quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after purchasing an additional 41,795 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors.

Universal Electronics Stock Down 2.9 %

Shares of UEIC opened at $11.33 on Monday. The business has a 50-day simple moving average of $9.05 and a two-hundred day simple moving average of $10.25. Universal Electronics Inc. has a 52 week low of $7.17 and a 52 week high of $14.20. The stock has a market cap of $147.63 million, a price-to-earnings ratio of -5.53 and a beta of 1.13.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, November 8th. StockNews.com raised Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $14.00 in a research note on Monday, November 11th.

Insiders Place Their Bets

In related news, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total transaction of $26,700.00. Following the completion of the transaction, the director now owns 38,062 shares in the company, valued at approximately $406,502.16. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.37% of the stock is owned by company insiders.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.