Formula Growth Ltd. Sells 8,300 Shares of Universal Technical Institute, Inc. (NYSE:UTI)

Formula Growth Ltd. lessened its stake in shares of Universal Technical Institute, Inc. (NYSE:UTI) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,650 shares of the company’s stock after selling 8,300 shares during the period. Formula Growth Ltd. owned 0.25% of Universal Technical Institute worth $3,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd increased its position in Universal Technical Institute by 24.4% during the fourth quarter. Covestor Ltd now owns 1,977 shares of the company’s stock worth $51,000 after acquiring an additional 388 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Universal Technical Institute in the fourth quarter valued at approximately $79,000. Morse Asset Management Inc bought a new position in Universal Technical Institute in the 3rd quarter valued at $152,000. Y Intercept Hong Kong Ltd bought a new position in shares of Universal Technical Institute in the third quarter valued at about $174,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Universal Technical Institute by 418.6% in the fourth quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company’s stock worth $202,000 after acquiring an additional 6,337 shares during the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Universal Technical Institute

In other news, Director George W. Brochick sold 8,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $27.59, for a total transaction of $220,720.00. Following the completion of the transaction, the director now owns 34,917 shares of the company’s stock, valued at approximately $963,360.03. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sherrell Smith sold 36,773 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $26.68, for a total value of $981,103.64. Following the transaction, the executive vice president now directly owns 227,358 shares of the company’s stock, valued at approximately $6,065,911.44. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,524 shares of company stock valued at $2,578,450. 15.10% of the stock is currently owned by company insiders.

Universal Technical Institute Stock Down 1.4 %

UTI stock opened at $27.35 on Friday. Universal Technical Institute, Inc. has a 1-year low of $13.66 and a 1-year high of $30.56. The firm has a market capitalization of $1.49 billion, a PE ratio of 28.19, a PEG ratio of 1.92 and a beta of 1.48. The business’s 50 day simple moving average is $27.04 and its 200 day simple moving average is $24.28. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42.

Universal Technical Institute (NYSE:UTI) last posted its earnings results on Wednesday, February 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.18 by $0.22. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. As a group, research analysts anticipate that Universal Technical Institute, Inc. will post 1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UTI. Barrington Research reaffirmed an “outperform” rating and set a $35.00 price target on shares of Universal Technical Institute in a research note on Thursday. Rosenblatt Securities raised their price target on Universal Technical Institute from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Lake Street Capital boosted their price objective on shares of Universal Technical Institute from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. B. Riley began coverage on Universal Technical Institute in a research note on Friday, March 28th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, Northland Securities increased their price objective on shares of Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.17.

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.