Needham Investment Management LLC Purchases 10,000 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Needham Investment Management LLC lifted its position in shares of Universal Technical Institute, Inc. (NYSE:UTI) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Needham Investment Management LLC owned about 0.56% of Universal Technical Institute worth $4,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UTI. Covestor Ltd increased its stake in shares of Universal Technical Institute by 6,256.0% in the 3rd quarter. Covestor Ltd now owns 1,589 shares of the company’s stock worth $26,000 after acquiring an additional 1,564 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in Universal Technical Institute in the second quarter worth about $43,000. International Assets Investment Management LLC increased its stake in shares of Universal Technical Institute by 1,526.0% during the third quarter. International Assets Investment Management LLC now owns 4,065 shares of the company’s stock valued at $66,000 after purchasing an additional 3,815 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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. Finally, ProShare Advisors LLC bought a new stake in shares of Universal Technical Institute in the 2nd quarter worth approximately $167,000. 75.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Universal Technical Institute

In other news, Director Kenneth R. Trammell sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total transaction of $777,600.00. Following the sale, the director now directly owns 128,205 shares in the company, valued at $3,323,073.60. This trade represents a 18.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 27.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UTI shares. Barrington Research raised their price objective on Universal Technical Institute from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Rosenblatt Securities raised their price target on Universal Technical Institute from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Lake Street Capital increased their price objective on shares of Universal Technical Institute from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. B. Riley lifted their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com raised Universal Technical Institute from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $25.33.

Universal Technical Institute Stock Performance

Shares of UTI traded down $2.35 on Tuesday, reaching $24.09. The company’s stock had a trading volume of 750,946 shares, compared to its average volume of 528,668. The stock’s 50 day simple moving average is $18.30 and its two-hundred day simple moving average is $17.06. The stock has a market capitalization of $1.30 billion, a P/E ratio of 32.35, a PEG ratio of 1.79 and a beta of 1.48. Universal Technical Institute, Inc. has a 12-month low of $10.46 and a 12-month high of $26.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.02.

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.