BlackRock Inc. Buys New Holdings in Universal Technical Institute Inc $UTI

BlackRock Inc. acquired a new stake in shares of Universal Technical Institute Inc (NYSE:UTI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,553,895 shares of the company’s stock, valued at approximately $323,080,000. BlackRock Inc. owned approximately 0.14% of Universal Technical Institute as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Leuthold Group LLC grew its stake in shares of Universal Technical Institute by 0.3% in the 4th quarter. Leuthold Group LLC now owns 141,748 shares of the company’s stock worth $3,704,000 after acquiring an additional 439 shares in the last quarter. Verition Fund Management LLC lifted its stake in Universal Technical Institute by 2.1% in the third quarter. Verition Fund Management LLC now owns 21,034 shares of the company’s stock valued at $685,000 after purchasing an additional 441 shares during the last quarter. ANB Bank increased its holdings in Universal Technical Institute by 5.8% in the 1st quarter. ANB Bank now owns 8,960 shares of the company’s stock worth $323,000 after acquiring an additional 491 shares during the last quarter. Engineers Gate Manager LP increased its stake in shares of Universal Technical Institute by 4.3% in the second quarter. Engineers Gate Manager LP now owns 12,299 shares of the company’s stock worth $417,000 after purchasing an additional 506 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in Universal Technical Institute by 1.2% during the 2nd quarter. SkyView Investment Advisors LLC now owns 42,404 shares of the company’s stock valued at $1,460,000 after acquiring an additional 506 shares during the period. 75.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on UTI shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price target on shares of Universal Technical Institute in a report on Thursday, August 6th. Truist Financial lowered their target price on Universal Technical Institute from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Northland Securities set a $41.00 price objective on Universal Technical Institute in a research report on Thursday, May 7th. Griffin Securities set a $49.00 price objective on Universal Technical Institute in a research report on Thursday, April 30th. Finally, Barrington Research upped their target price on shares of Universal Technical Institute from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Universal Technical Institute Trading Down 1.7%

Universal Technical Institute stock opened at $22.12 on Thursday. The business’s fifty day moving average is $37.15 and its 200 day moving average is $36.72. Universal Technical Institute Inc has a one year low of $21.29 and a one year high of $51.34. The stock has a market capitalization of $1.22 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 2.47 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.30.

Universal Technical Institute (NYSE:UTI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $218.91 million during the quarter, compared to analyst estimates of $220.40 million. Universal Technical Institute had a return on equity of 10.18% and a net margin of 3.88%. On average, sell-side analysts predict that Universal Technical Institute Inc will post 0.61 EPS for the current year.

Insider Buying and Selling

In other news, insider Kevin Prehn sold 4,545 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $40.00, for a total value of $181,800.00. Following the completion of the transaction, the insider owned 27,025 shares of the company’s stock, valued at $1,081,000. This represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christine Kline sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $44.42, for a total value of $155,470.00. Following the completion of the transaction, the chief accounting officer owned 43,006 shares of the company’s stock, valued at $1,910,326.52. The trade was a 7.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,102,545 shares of company stock worth $128,449,570 over the last ninety days. 9.80% of the stock is owned by corporate insiders.

About Universal Technical Institute

Universal Technical Institute, Inc (NYSE: UTI) is a leading provider of post-secondary education for students pursuing careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, as well as in welding and CNC machining. The company designs and delivers hands-on training through a blend of classroom instruction and experiential lab work, preparing graduates for entry-level positions in the transportation, manufacturing and energy sectors. UTI’s curriculum emphasizes industry-recognized credentials and proprietary coursework developed in collaboration with original equipment manufacturers (OEMs) to ensure alignment with evolving employer needs.

Through a network of campus locations across the United States and select centers in Canada, Universal Technical Institute offers diploma and certificate programs ranging from 36 to 74 weeks in length.