Balyasny Asset Management L.P. Acquires New Position in Universal Technical Institute, Inc. (NYSE:UTI)

Balyasny Asset Management L.P. acquired a new stake in shares of Universal Technical Institute, Inc. (NYSE:UTI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 43,103 shares of the company’s stock, valued at approximately $1,108,000. Balyasny Asset Management L.P. owned approximately 0.08% of Universal Technical Institute as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew 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 valued at $51,000 after purchasing an additional 388 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Universal Technical Institute in the fourth quarter worth approximately $79,000. Aquatic Capital Management LLC bought a new stake in Universal Technical Institute in the fourth quarter worth approximately $118,000. Meeder Asset Management Inc. grew its position in 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 in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in Universal Technical Institute in the fourth quarter worth approximately $203,000. 75.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on UTI. Northland Securities boosted their target price on shares of Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. B. Riley began coverage on shares of Universal Technical Institute in a research report on Friday, March 28th. They issued a “buy” rating and a $31.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $36.00 target price on shares of Universal Technical Institute in a research report on Thursday, May 8th. Barrington Research boosted their target price on shares of Universal Technical Institute from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Lake Street Capital boosted their target price on shares of Universal Technical Institute from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Universal Technical Institute currently has a consensus rating of “Buy” and an average price target of $33.00.

Universal Technical Institute Price Performance

NYSE:UTI opened at $31.68 on Wednesday. The stock has a market cap of $1.72 billion, a P/E ratio of 32.66, a PEG ratio of 1.92 and a beta of 1.57. Universal Technical Institute, Inc. has a one year low of $13.66 and a one year high of $35.49. The company has a fifty day moving average price of $27.62 and a 200 day moving average price of $25.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14.

Universal Technical Institute (NYSE:UTI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. The company had revenue of $207.45 million during the quarter, compared to analysts’ expectations of $196.63 million. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. Analysts anticipate that Universal Technical Institute, Inc. will post 1 earnings per share for the current year.

Insider Buying and Selling at Universal Technical Institute

In other Universal Technical Institute news, EVP Sherrell Smith sold 39,446 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $27.85, for a total value of $1,098,571.10. Following the completion of the sale, the executive vice president now owns 177,912 shares in the company, valued at approximately $4,954,849.20. This trade represents a 18.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George W. Brochick sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $27.59, for a total transaction of $220,720.00. Following the completion of the sale, the director now owns 34,917 shares of the company’s stock, valued at $963,360.03. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,524 shares of company stock worth $2,578,450. 15.10% of the stock is currently owned by corporate insiders.

About Universal Technical Institute

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.