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

Needham Investment Management LLC boosted its holdings in shares of Universal Technical Institute, Inc. (NYSE:UTI) by 3.4% during the third quarter, according to the company in 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’s holdings in Universal Technical Institute were worth $4,878,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of UTI. FMR LLC boosted its holdings in shares of Universal Technical Institute by 73,048.1% in the 3rd quarter. FMR LLC now owns 879,240 shares of the company’s stock worth $14,296,000 after purchasing an additional 878,038 shares during the period. Vanguard Group Inc. boosted its stake in shares of Universal Technical Institute by 55.0% during the first quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock valued at $37,872,000 after purchasing an additional 842,765 shares during the period. Hennessy Advisors Inc. purchased a new position in Universal Technical Institute in the 2nd quarter worth about $9,032,000. Pembroke Management LTD lifted its holdings in Universal Technical Institute by 646.3% during the 2nd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Universal Technical Institute by 198.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 345,772 shares of the company’s stock valued at $5,622,000 after buying an additional 229,738 shares during the period. Institutional investors own 75.67% of the company’s stock.

Insider Buying and Selling at Universal Technical Institute

In related news, Director Kenneth R. Trammell sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total value of $777,600.00. Following the transaction, the director now directly owns 128,205 shares of the company’s stock, valued at approximately $3,323,073.60. This trade represents a 18.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 27.60% of the company’s stock.

Wall Street Analyst Weigh In

UTI has been the topic of a number of research reports. Northland Securities lifted their price target on shares of Universal Technical Institute from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. StockNews.com upgraded Universal Technical Institute from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Rosenblatt Securities upped their price objective on Universal Technical Institute from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Lake Street Capital boosted their price objective on shares of Universal Technical Institute from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, B. Riley raised their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $25.33.

Universal Technical Institute Price Performance

Shares of Universal Technical Institute stock 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. Universal Technical Institute, Inc. has a 52-week low of $10.46 and a 52-week high of $26.64. The company 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. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $18.30 and a 200-day moving average price of $17.06.

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.