Eric Singer Buys 4,000 Shares of Universal Electronics Inc. (NASDAQ:UEIC) Stock

Universal Electronics Inc. (NASDAQ:UEIC) Director Eric Singer bought 4,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average price of $6.70 per share, with a total value of $26,800.00. Following the completion of the purchase, the director now directly owns 46,403 shares in the company, valued at $310,900.10. This represents a 9.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Eric Singer also recently made the following trade(s):

• On Monday, May 19th, Eric Singer bought 3,000 shares of Universal Electronics stock. The stock was bought at an average price of $6.89 per share, with a total value of $20,670.00.
• On Friday, May 16th, Eric Singer acquired 6,000 shares of Universal Electronics stock. The shares were bought at an average cost of $7.08 per share, for a total transaction of $42,480.00.
• On Tuesday, May 13th, Eric Singer acquired 24,000 shares of Universal Electronics stock. The shares were bought at an average cost of $6.73 per share, for a total transaction of $161,520.00.

Universal Electronics Trading Down 5.3%

UEIC opened at $6.55 on Friday. Universal Electronics Inc. has a 12-month low of $4.32 and a 12-month high of $12.64. The firm has a market capitalization of $86.26 million, a PE ratio of -3.54, a P/E/G ratio of 3.62 and a beta of 1.44. The firm has a 50 day moving average of $5.76 and a two-hundred day moving average of $8.57.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, February 20th. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $110.45 million for the quarter, compared to analyst estimates of $102.47 million. Universal Electronics had a negative net margin of 6.09% and a negative return on equity of 3.67%. As a group, analysts predict that Universal Electronics Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UEIC has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Universal Electronics in a report on Friday, February 21st. Wall Street Zen lowered Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in shares of Universal Electronics by 2.9% in the first quarter. Acadian Asset Management LLC now owns 520,200 shares of the technology company’s stock worth $3,179,000 after buying an additional 14,765 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Universal Electronics by 8.4% during the 1st quarter. Empowered Funds LLC now owns 48,816 shares of the technology company’s stock worth $299,000 after purchasing an additional 3,802 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Universal Electronics by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 36,341 shares of the technology company’s stock worth $222,000 after purchasing an additional 4,893 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Universal Electronics by 63.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 93,973 shares of the technology company’s stock worth $575,000 after purchasing an additional 36,347 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Universal Electronics by 62.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 32,502 shares of the technology company’s stock worth $199,000 after purchasing an additional 12,526 shares during the period. 79.35% of the stock is currently owned by institutional investors and hedge funds.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.