Universal Technical Institute, Inc. (NYSE:UTI) Position Lowered by Morse Asset Management Inc

Morse Asset Management Inc decreased its stake in shares of Universal Technical Institute, Inc. (NYSE:UTI) by 53.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,300 shares of the company’s stock after selling 5,025 shares during the period. Morse Asset Management Inc’s holdings in Universal Technical Institute were worth $111,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Covestor Ltd lifted its position in shares of 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 purchasing an additional 388 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Universal Technical Institute in the fourth quarter worth about $79,000. Lazard Asset Management LLC bought a new position in Universal Technical Institute in the fourth quarter worth about $101,000. Aquatic Capital Management LLC bought a new position in Universal Technical Institute in the fourth quarter worth about $118,000. Finally, Meeder Asset Management Inc. lifted its holdings 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 during the last quarter. Institutional investors own 75.67% of the company’s stock.

Insiders Place Their Bets

In other Universal Technical Institute news, EVP Sherrell Smith sold 10,000 shares of Universal Technical Institute stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $26.95, for a total value of $269,500.00. Following the transaction, the executive vice president now owns 157,663 shares in the company, valued at approximately $4,249,017.85. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George W. Brochick sold 8,000 shares of Universal Technical Institute stock in a transaction that occurred 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 transaction, the director now owns 34,917 shares in the company, valued at approximately $963,360.03. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,524 shares of company stock worth $2,578,450. 15.10% of the stock is owned by insiders.

Universal Technical Institute Price Performance

NYSE UTI opened at $31.68 on Wednesday. Universal Technical Institute, Inc. has a 12 month low of $13.66 and a 12 month high of $35.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $1.72 billion, a PE ratio of 32.66, a P/E/G ratio of 1.92 and a beta of 1.57. The company’s 50 day simple moving average is $27.62 and its 200 day simple moving average is $25.93.

Universal Technical Institute (NYSE:UTI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.07. The firm had revenue of $207.45 million for the quarter, compared to analyst estimates of $196.63 million. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. As a group, equities research analysts forecast that Universal Technical Institute, Inc. will post 1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UTI has been the topic of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $36.00 target price on shares of Universal Technical Institute in a report on Thursday, May 8th. Lake Street Capital raised their price target on shares of Universal Technical Institute from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Barrington Research raised their price target on shares of Universal Technical Institute from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. B. Riley assumed coverage on shares of Universal Technical Institute in a research note on Friday, March 28th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Northland Securities raised their price target on shares of Universal Technical Institute from $30.00 to $34.00 and gave the company 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 given a strong buy rating to the company. Based on data from MarketBeat, Universal Technical Institute presently has a consensus rating of “Buy” and an average price target of $33.00.

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.